New Mexico, or should I call it Blue Mexico, relies heavily on fossil fuel extraction revenues to pay for things. It’s easy money and allows them to walk tall and carry a “big-spending” stick. But Joe Biden just put a hitch in their step.
President Joe Biden’s 60-day moratorium on new oil and natural gas leases and drilling permits is prompting widespread concerns in New Mexico, where spending on education and other government programs hinges on the industry’s success.
The 60-day schtick is a ‘gag-order’ on what will become a permanent ban, as promised. And that’s going to hurt.
New Mexico is already struggling from COVID19 abuses at the hands of Democrat Governor Michelle Lujan Grisham. And maybe that’s why Democrats in Tierra del Encanto are reluctant to say much. Their environmentalist friends will be ecstatic (they loved it when NM pretended to have its own New Green Deal), but now the budget is going to take a serious beating.
The Biden administration’s promise to end cheap energy will not just hurt New Mexico’s revenue stream; it will kill jobs and increase the cost of living. Everything is getting more expensive and that hurts low and middle-income families hardest.
This comes on the heels of nearly a year of progressive domestic abuse against jobs and job creators we’ve called covidism.
The Congressional Democrat majority has also promised to end the Trump tax cuts and raise spending (that will mean more taxes) which will add economic pressure that no promise of fiat money from DC will relieve.
In other words, New Mexico, which overwhelmingly voted for Joe Biden, is going to get what they asked for, and while I feel bad for them, I’m going to get a lot of that too, and I asked for something else.