New Mexico Wild statement on oil and gas industry’s $8.1 billion financial assurance gap in state

New Mexico Wild Executive Director Mark Allison has issued the following statement regarding a report released today by the Center for Applied Research, which finds that approximately $8.1 billion would be needed to cover the clean-up and remediation costs of over 60,000 oil and gas wells and 35,000 miles of pipeline in the state.

“The study released today is a troubling reminder that the oil and gas industry too often does not pay its fair share to clean up its own messes,” said Mark Allison, New Mexico Wild Executive Director. “Too many of these companies take a drill-and-run approach, leaving New Mexico’s taxpayers on the hook for the profits of private oil and gas executives. We commend State Land Commissioner Stephanie Garcia Richard for the steps she continues to take to ensure there is more financial assurance in place when it comes to these activities, and will continue working with her office to find solutions.”

The full report is available here.

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