How an oil & gas fund dividend could empower New Mexicans

In his recent visit to the Land of Enchantment, Energy Secretary Chris Wright underscored New Mexico’s national significance in energy production, highlighting its vital role in meeting growing U.S. energy demands through oil, solar, and emerging nuclear and geothermal industries. Simultaneously, the state is enjoying more than $800 million in new tax revenue from oil and natural gas extracted from the Permian Basin in the southeast corner of the state. The oil and gas tax revenue has grown over 50 percent in the last year, is worth $2.1 billion, and represents over 20 percent of the state’s annual budget.

This government-controlled wealth has prompted an urgent and consequential question: How do we transform today’s abundance into lasting prosperity? The Southwest Public Policy Institute believes the answer lies in empowering New Mexicans directly by establishing a permanent fund dividend (NMPFD). Modeled after Alaska’s successful program, this proposal offers a path toward economic freedom, poverty alleviation, and long-term stability.

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Source: National Review

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