New Mexico § 70-11-7 Findings and purpose

New Mexico Statutes

§ 70-11-7 — Findings and purpose

New Mexico § 70-11-7

Ch. 70Oil and Gas

Art. 11Office of Interstate Natural Gas Markets

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Bluebook

N.M. Stat. Ann. § 70-11-7 (2026).

Text

A. The legislature finds that:

(1)the natural gas industry is an important contributor to the New Mexico economy, as a significant source of both employment and direct state revenues;

(2)New Mexico ranks second among the states in onshore natural gas reserves and will likely continue to be a major producer of natural gas for the foreseeable future;

(3)a study funded by Laws 1996, Chapter 7 concluded that an additional pipeline capable of transporting New Mexico natural gas to additional markets was, at that time, not economically feasible; and (4) the study should be updated on a regular basis and the results reported to the legislature. B. The purpose of this act is to provide a mechanism for monitoring the need for an additional natural gas pipeline in New Mexico.

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A. The legislature finds that: (1) the natural gas industry is an important contributor to the New Mexico economy, as a significant source of both employment and direct state revenues; (2) New Mexico ranks second among the states in onshore natural gas reserves and will likely continue to be a major producer of natural gas for the foreseeable future; (3) a study funded by Laws 1996, Chapter 7 concluded that an additional pipeline capable of transporting New Mexico natural gas to additional markets was, at that time, not economically feasible; and (4) the study should be updated on a regular basis and the results reported to the legislature. B. The purpose of this act is to provide a mechanism for monitoring the need for an additional natural gas pipeline in New Mexico.