From The Daily Times, "The pit rules are the result of a three-year process launched by New Mexico Energy Minerals and Natural Resources Department's Oil Conservation Division to prevent groundwater pollution in the state....
....Once the rules were implemented, doing away with "uncertainty about how they would affect the industry," the number increased to 84 (rigs) as tallied this month, Gallagher said.
"It's possible that the lower price for natural gas and the interpretation of the pit rules could trigger a drop in production," he added." Yet,
"Friends of the Earth’s new analysis shows that even though the oil and gas industry is experiencing record profits, it is set to receive at least $33 billion in handouts from taxpayers over the next five years. These companies stand to gain at least $23.2 billion from tax loopholes, $3.8 billion in royalty rollbacks, $1.6 billion in direct subsidies for research and development, and $4.3 billion through accounting gimmicks. The tax giveaways have increased dramatically since the passage of a Republican-drafted energy bill in 2005." Maybe the industry of "Big Oil, Big Influence" should not only take into account these giveaways, but also the threat to human health, the OCD fining structure not updated since 1935, the exemptions from varying environmental acts, and the concept of too much drilling for natural gas.
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