Last month, we brought you an in-depth look at the insidious takeover of healthcare in New Mexico by private equity groups. We outed some of the organizations that are trying to make us feel like this is all a good thing. They use New Mexico-themed websites but it’s clear their funding comes from huge private equity firms based out of state. But they do have some “local” funders as well. Surprise surprise it’s the oil and gas companies.
Specifically, it’s the true dons of New Mexico oil; the Yates Family.
The Long Reach of the Yates
The Yates family and their connection to New Mexico are, unfortunately, inextricably linked. Clear back to before we were even a state, Martin Yates was exploring the territory for oil. In 1924 he hit the motherlode and ever since, his entire clan has made money by extracting New Mexico’s resources for profit.
We’ve talked at length before about Harvey Yates. Oil magnate, Trump supporter, and former Chair of the Republican Party of New Mexico. Conservative Democrats have been recipients of Yates money for years. This is an effort to undermine the will of New Mexicans who are looking for Progressive leadership in Santa Fe.
Harvey’s personal oil company is Jalapeño Corp. This is important because we see Harvey’s name as a donor to conservative Dems all the time. But his company has also given hundreds of thousands in recent years to various conservative PACs and candidates. He’s even backed extreme candidates like Solomon Peña. Peña shot up Democratic leaders’ homes after losing his own election a few years back.
One thing we didn’t mention though is that it’s something of a family affair. Harvey’s cousin, Peyton Yates, is also an oil mogul in his own right, running a company called Santo Petroleum. And unsurprisingly, Peyton and his company also have donated to the people you’d expect they would.
Oh, and he’s also listed as an owner of El Rito Media. You might remember stories from the last few years about how Harvey Yates was buying up New Mexico’s small newspapers. These include the Rio Grande Sun and the Carlsbad Current Argus. Turns out, that both Yates boys are listed as owners.
The Yates connection to private equity backed healthcare
But now, the oil and gas industry’s influence is starting to creep into New Mexico’s healthcare sector. Private equity-backed healthcare systems, often funded by out-of-state investors, are acquiring local hospitals and clinics. This trend is exemplified by the sale of St. Vincent Regional Medical Center to CHRISTUS Health, a Catholic nonprofit network. This is in turn has led to the creation of the Anchorum Health Foundation. Such foundations, along with organizations like Think New Mexico and Imagine New Mexico, are shaping healthcare policy in the state. The connection between the oil and gas industry and these healthcare organizations is evident in their funding sources.
Peyton Yates’ charitable organization (cleverly called the Peyton Yates Foundation) is among the donors to these organizations. Think New Mexico, funded by Anchorum and Con Alma, has championed policy initiatives that benefit private equity-backed healthcare companies. They back ideas such as capping malpractice payouts and creating a public fund.
The Land of Extraction
The Yates web of money also represents a larger trend: the oil and gas industry’s outsized influence on New Mexico’s politics is a threat to the state’s democracy.
The industry’s campaign contributions and lobbying efforts drown out the voices of everyday New Mexicans, leading to policy decisions that ignore the public interest and scientific consensus.
For instance, during the 2025 Legislative session, the New Mexico Oil and Gas Association spent nearly $130,000 on ads against bills that would have limited climate pollution and protected communities from oil and gas operations. This level of spending manipulates public discourse and undermines the ability of average New Mexicans to access accurate information.
In the last year alone, the oil and gas industry has spent approximately $4,587,452 on election contributions and lobbying efforts, with $2,326,896 going towards the 2024 elections and $2,260,556 spent during the 2025 legislative session. This level of spending is unprecedented, with the 2024 cycle being the largest amount the industry has ever contributed. View our NM oil and gas campaign dashboard for more etc.
So what next?
It’s pretty “rich” that oil and gas moguls are “investing” in NM’s healthcare takeover. The environmental and health impacts of the oil and gas industry’s activities are significant concerns. The industry poses a major threat to New Mexico’s water future, with hydraulic fracturing requiring dangerous chemicals and averaging a spill of “produced water” every seven hours in 2025. Most of New Mexico is currently experiencing severe or extreme drought conditions, making it imperative to prioritize water usage for the people of the state. The industry’s emissions contribute to poor air quality, with counties in New Mexico being among the worst in the country. The longer, hotter, and drier summers resulting from climate change have impacted the state’s landscape, leading to increased desertification, heat-related illnesses, and higher energy costs.
Furthermore, the oil and gas industry’s influence has led to financial instability in New Mexico. The state’s budget is heavily reliant on oil and gas revenue, which is notoriously unreliable due to the industry’s volatility. The COVID-19 pandemic highlighted this vulnerability, as world oil prices plummeted, forcing the state to call a special session and reevaluate its budget. Meanwhile, the oil and gas industry reported record profits in the following years. The shift towards renewable energy sources poses a risk to the oil and gas industry’s profits. That shouldn’t also threaten our state’s financial security.
The way forward for New Mexico is to expand state resources, especially in rural and underserved communities, and to address the environmental impacts of the oil and gas industry. By prioritizing the health, environment, and economic well-being of its people, New Mexico can foster innovation in renewable energy, land and water restoration, and outdoor recreation. This approach will help the state prepare for a sustainable future and reduce its reliance on the oil and gas industry. Ultimately, New Mexicans must work together to ensure that their healthcare decisions are not controlled by profit-driven systems and that their state is prepared for the challenges ahead.