Raising the royalty cap for our oil and gas is REALLY important for New Mexico

With less than a week to go until the 2019 Legislative session there’s already been a lot of exciting movement from New Mexico’s new (mostly) progressive majority at the state level. Commissioner of Public Lands Stephanie Garcia Richard made a big splash today with an Executive Order banning wildlife killing contests on state lands. That’s pretty great news! But Garcia Richard made
another announcement this week that we’re excited about as well: A
planned bill to increase the cap on royalties paid from oil and gas companies
from wells on state lands from 20 percent to 25 percent. What does that mean?