Governor says she 'wouldn't fight' raising some oil, gas royalty rates
Gov. Michelle Lujan Grisham said she wouldn’t oppose efforts to raise royalty rates on some oil and gas production, an idea that failed to pass the Legislature earlier this year.
“I wouldn’t fight it,” Lujan Grisham told The New Mexican on Tuesday when asked if she would support a proposal to increase what the state collects from production on some state lands. “I’m certainly not going to stand in the way of the land commissioner.”
State Land Commissioner Stephanie Garcia Richard’s office said it plans to propose such legislation again, after a bill that would have allowed for royalty rates of up to 25 percent was tabled by a House committee in February.
Garcia Richard has argued that raising royalty rates is a good idea for a state rich in oil and gas but burdened by one of the country’s highest poverty rates.
Read more: https://www.santafenewmexican.com/news/local_news/gov-says-she-wouldn-t-fight-raising-some-oil-gas/article_699b02f8-27bc-57b4-88e3-935c03a94cbc.html
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