Monday, February 21, 2011

Tax incentive for oil and gas blocked … by Republicans

Ideology first?

Capitol Report
Posted by rnikolewski in News on February 21st, 2011

"Here’s a switch:

A bill that was enthusiastically supported by a former president of the New Mexico Oil and Gas Assocation (NMOGA) was stalemated Monday (Feb. 21) in the House Energy and Natural Resources Committee – not by Democrats, but by Republicans.

House Bill 444, sponsored by Speaker of the House Ben Luján (D-Nambé), would establish an incentive for oil and gas producers to use what’s called a “closed loop system” to dispose of waste created during drilling operations, which eliminates the need to dig a pit to deposit drill cuttings and other debris.

Former NMOGA president Bob Gallagher wrote a glowing endorsement of HB444 in an opinion piece that ran in Sunday’s Santa Fe New Mexican. “This bill would send a signal to the oil-and-gas industry across the country that New Mexico is open for business and wants and needs those capital dollars that have gone to other states in the past few years,” Gallagher wrote. “It would also proclaim to the environmental community that New Mexico is serious about the protection of our environment.”' More>>>>

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