This post was originally published on this site

ExxonMobil said May 17 a study by Impact Data Source estimates the company’s development of Permian Basin resources in New Mexico will generate about $64 billion in net economic benefits for the state and local communities over the next 40 years. The benefits include thousands of new jobs and increased funding for education, health and human services, and infrastructure improvements. The state government will receive about $62 billion in net fiscal benefits, including $44 billion from new leases and royalties and $8.5 billion from state oil and gas severance taxes. The study assumes $40 for the price of a barrel of crude oil. Communities in southeastern New Mexico where ExxonMobil operates will receive $1.8 billion in net tax revenues. The company expects to spend $55 billion in Eddy and Lea counties as part of its plan to expand operations in Permian Basin.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

23 − 19 =