Yvette Herrell: “I thank Chairman Newhouse for yielding and for his leadership in holding this Special Order. Madam Speaker, with the…”

“I thank Chairman Newhouse for yielding and for his leadership in holding this Special Order. Madam Speaker, with the stroke of a pen, President Biden threatened the economy and public education systems of New Mexico, seven other Western States, four Gulf States, and Alaska. To put it simply, the executive actions he took on behalf of radical environmentalists to stop new oil and gas leases on Federal lands is nothing short of disastrous. In New Mexico, over half the oil production and two-thirds of the natural gas production occurs on Federal lands. That production employs nearly 120,000 people Statewide, and estimates show a ban on new oil and gas leases could cost the State over 60,000 jobs by the end of 2022. Royalty payments and taxes from the oil and gas industry contribute more than over one-third of our State's general fund. The loss in revenue from this leasing ban will have the greatest impact on the children of New Mexico, as over $1 billion from the oil and gas industry goes to New Mexico public schools every year. Madam Speaker, before the ban was announced, I sent a letter to New Mexico Governor, Michelle Lujan Grisham, asking how she would make up the lost revenue. I have yet to receive a reply. After the announcement, I introduced the POWER Act, along with nearly 40 of my Republican colleagues.…”