I have to say I am very impressed with the great position taken by the Mora County Commission some time ago. They said no to the Oil and Gas industry on drilling and fracking in their county. This takes courage since that northern New Mexico enclave has been economically challenged for so many years. It is also a place of beauty with landscapes to die for! And so it should be no surprise that the republican county chairman there is now complaining widely and loudly that the oil boys should get to do what ever they want. Lest we forget that the GOP and the Oil and Gas Industry are one in the same.
Given our historic drought and the frightening news on growth of green house gases the Commissioners in Mora look pretty damn smart. They know that the long term health of their region is tied to water supplies and they have taken bold moves to protect them. It looks even more impressive when one looks at the Martinez administration's failure to carry out inspections on drilling operations in New Mexico.
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Mora County's decision was posted several times on Facebook, so I looked up Mora County. It's 81 percent Hispanic and rebelled against the US government in 1848. Draw your own conclusions.
On a more sobering note, I came across some oil statistics this morning at The Wolf Report.
http://thewolfatthedoor.blogspot.com/
From The Financial Times: US oil companies extracting shale oil in North Dakota are flaring off enough natural gas daily to power Chicago and DC. Total US flare gas volume has tripled in 5 years. The good news is that the US is only in 5th place behind Russia, Nigeria, Iran, Iraq.
US oil product exports 1992-2004 approximately 1 million barrels/day. 2010= 2 million/day. 2011= 3 million/day.
From the US Energy Information Agency: US oil imports at 25 year low, 6 million barrels/day compared to approx 12 million/day 2004-2007. Domestic production 5 million barrels/day 2008, estimated to reach 8 million/day by 2014. All hail the shale!
Those were among some stats he was listing to show that there's overproduction in the economy, which can be a sign of an oncoming downturn. The excess production can't be absorbed. Factories will stop buying and slow down. Layoffs could follow.
What's different about this time, my observation has been, is that the overproduction is accompanied by Susana Martinez suddenly and without explanation endorsing the film industry. Draw your own conclusions.
No sooner had Governor Martinez has bestowed her blessing upon the film industry than the Journal suddenly morphed into Entertainment Weekly. I'm talking about that lead story in Sunday's paper with the glittery graphics and the pictures of all the big stars who have one thing or another to do with New Mexico.
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