2013 HB 286 Oil & Gas Financial Assurance

CVNM Position:

Support

Priority:

CVNM Priority Vote

Year:

2013

Sponsors:

Gail Chasey
Michael Sanchez

Topics:

Energy & Climate Change
Water

Legislative Info:

HB 286 on nmlegis.gov »

Description

Much has changed since 1935, when the Oil and Gas Act was enacted. The Act is desperately in need of modernization to reflect current realities—particularly the need to adequately enforce the oil and gas industry’s responsibility to protect crucial and declining water supplies. HB 286 would have brought New Mexico’s fines and penalties in line with surrounding states like Texas and Arizona. The legislation also corrected glaring inconsistencies between the Oil and Gas Act and other state environmental statutes, ensuring equal treatment of similar activities under state law.

Outcome

HB 286 died on the House floor (32-36).