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BACKGROUND REPORT H May 14-16, 2009 H Albuquerque Convention Center

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BACKGROUND REPORT H May 14-16, 2009 H Albuquerque Convention Center BACKGROUND REPORT h May 14-16, 2009 h Albuquerque Convention Center Town Hall Signature Sponsor Intel New Mexico First Sustaining Sponsors Major Town Hall Sponsors Hatton W. Sumners Foundation New Mexico Economic Development Department PNM New Mexico Energy Minerals and Natural Resources Department New Mexico Mutual Sandia National Laboratories Scholarship Sponsors Hunt Development Group Arizona Public Service Armstrong Energy Corporation Lead Sponsors First American Bank BHP Billiton LES Chevron Los Alamos Department of Public Utilities Lockheed Martin/Sandia National Laboratories/ New Mexico Gas Company Technology Ventures Corporation REDW-The Rogoff Firm Los Alamos National Laboratory National Commission on Energy Policy Research Partner New Mexico State University Kettering Foundation Background Report for New Mexico First’s 2009 Statewide Town Hall Copyright 2009 New Mexico First 320 Gold Avenue SW Suite 300 Albuquerque, New Mexico 87102 Phone: 505-241-4813 (Albuquerque) Fax: 505-241-4819 Email: [email protected] Website: www.nmfirst.org Permission is typically granted to reproduce all or part of this document for educational or public policy purposes, subject to approval by New Mexico First. Contact us for reproduction authorization. Growing New Mexico’s Energy Economy, v.2 2 Background Report for New Mexico First’s 2009 Statewide Town Hall Table of Contents Forward .................................................................................................................................................................................................... 5 About New Mexico First ....................................................................................................................................................................... 5 The Town Hall Process ........................................................................................................................................................................ 5 This Report .......................................................................................................................................................................................... 5 Authors ............................................................................................................................................................................................ 5 Introduction ............................................................................................................................................................................................. 6 Why Now? ............................................................................................................................................................................................ 6 National Security ............................................................................................................................................................................. 6 Jobs ................................................................................................................................................................................................ 6 Environment .................................................................................................................................................................................... 7 New Mexico’s Energy Resources ........................................................................................................................................................ 7 NM’s Energy Production ...................................................................................................................................................................... 8 How Economies Grow ......................................................................................................................................................................... 8 Workforce Development ...................................................................................................................................................................... 9 Report Structure ................................................................................................................................................................................... 9 New Mexico’s Energy Picture ............................................................................................................................................................ 10 Conventional Energy Sources ............................................................................................................................................................. 11 Annual Economic Impact of NM Conventional Energy Sources ................................................................................................... 11 Oil and Natural Gas ........................................................................................................................................................................... 11 Oil .................................................................................................................................................................................................. 11 Natural Gas ................................................................................................................................................................................... 12 Oil and Gas State Economic Impact ............................................................................................................................................. 12 Environmental and Regulatory Issues .......................................................................................................................................... 13 Compressed Natural Gas as Vehicle Fuel .................................................................................................................................... 13 OIL AND GAS: Policy Implications ............................................................................................................................................... 14 Coal .................................................................................................................................................................................................... 15 Global and National Context ......................................................................................................................................................... 15 New Mexico Context ..................................................................................................................................................................... 15 Environmental and Regulatory Issues .......................................................................................................................................... 15 Carbon Capture and Sequestration .............................................................................................................................................. 16 COAL: Policy Implications ............................................................................................................................................................. 17 Uranium Production and Nuclear Energy .......................................................................................................................................... 18 Global and National Context ......................................................................................................................................................... 18 New Mexico Uranium Mining and Milling ...................................................................................................................................... 18 Status of Uranium Mines ............................................................................................................................................................... 19 New Mexico Uranium Enrichment ................................................................................................................................................. 20 URANIUM: Policy Implications ...................................................................................................................................................... 20 Renewable Energy Sources ................................................................................................................................................................. 21 Annual Economic Impact of NM Renewable Energy Sources ...................................................................................................... 21 Wind ................................................................................................................................................................................................... 21 Global and National Context ......................................................................................................................................................... 21 New Mexico Context ..................................................................................................................................................................... 21 Economic Impacts and Job Creation ............................................................................................................................................ 21 Regulatory and Environmental Issues .........................................................................................................................................
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