New Mexico
New Mexico’s Deal With Oil Company to Plug Wells Could Set a Precedent
Welcome to “Feet to the Fire: Big Oil and the Climate Crisis,” a biweekly newsletter in which we share our latest reporting on how the fossil fuel industry is driving climate change and influencing climate policy in five of the nation’s most important oil- and gas-producing states. In addition, we shine a spotlight on the financing of the fossil fuel industry, holding banks and other financial institutions accountable for their role and providing you with updates on their activities.
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New Mexico to Bankroll Plugging of Oil Wells for Company Dubbed ‘Poster Child’ for State Reforms
In an unprecedented settlement, the state of New Mexico came to an agreement with Ridgeway Arizona Oil Corp. to plug 299 of the company’s moribund, nonproducing oil wells, with the state paying the costs and the company reimbursing the state $30,000 per month until the bill is repaid. The repayment process could take more than 83 years. The company was the focus of a Capital & Main investigation last year into companies taking advantage of a state program allowing oil and gas producers to temporarily shut off wells due to the collapse of the fossil fuel market following global COVID-19 economic shutdowns. Instead of forcing companies to produce oil and gas at a loss during the pandemic — which would have the side effect of lowering state tax revenue — the Oil Conservation Division implemented an emergency rule allowing companies to shut down wells for up to three years without penalty.
Why Pittsburgh’s ‘Extreme Embrace’ of Fossil Fuel Lobbyists Threatens to Undermine Local Climate Goals
More than Houston or Baton Rouge or other cities where the oil industry dominates the economy, Pittsburgh is entangled in “the most extreme embrace” of fossil fuel lobbyists, according to a report from environmental research and advocacy organization F Minus. The report identified five powerful lobbying firms that represent oil and gas companies, as well as environmentally minded groups and city government — a dual loyalty that threatens to undermine local climate goals and the state’s progress on its greenhouse gas reduction goals, reports The Slick’s Audrey Carleton. “Fossil fuel companies have far more money and clout and gravity and so the magnets are always going to move in their direction,” said report author James Browning.
U.S. Banks Lag European Banks in Green Financing
American banks lag European banks when it comes to green financing — loans and bonds for environmentally friendly industries — largely due to a politically fueled backlash in some states against investment policies by some banks suspected favor renewables over fossil fuels. Overall the world’s largest banks made $3 billion from underwriting bonds and making loans in the sustainable category last year compared to $2.7 billion for the oil and gas industry. The backlash began in 2022 when the state of Texas accused BlackRock and nine European investment banks of boycotting the oil and gas industry. In response, BlackRock assured the state that it had $310 billion worth of investments in the oil and gas industry. Either way, the momentum is not quite there yet — four times as much capital (investments, loans, bonds, etc.) needs to be allocated to green projects compared to fossil fuels by 2030 to align with net zero emissions targets, according to an analysis by BloombergNEF. Yet at the end of 2022, that ratio was just 0.7 to 1, largely unchanged from the previous year. “Banks still aren’t keeping pace with the rate of transition that’s required to avoid catastrophic climate change,” Jason Schwartz, senior communications strategist at Sunrise Project, a nonprofit focused on the financial sector’s contribution to global warming, told BloombergBNN.
Canada’s Big Banks Accused of Misleading Investors When It Comes to ‘Sustainable Finance’
Canada’s big five banks were accused of misleading investors by using terms such as “sustainable finance” without supporting their claims with actual data, according to climate advocacy group Paris Compliance, which filed a complaint with securities regulators last week. The banks — RBC, TD, BMO, CIBC and Scotiabank — have made pledges on sustainable finance totalling $2 trillion by 2030. “They’re putting this in the window as one of their core responses to climate change and net zero, when they’re not rationalizing or justifying or providing any evidence or proof about that,” Matt Price, executive director of the group, told the CBC. As an example, Paris Compliance noted that TD Bank served as a co-sustainability structuring agent for a U.S. $4 billion sustainability-linked loan with Occidental Petroleum, an oil company which is spending $12 billion to buy shale driller CrownRock. The banks did not respond to the CBC’s requests for comment.
ING is First Major Bank to End Financing for Blast Furnace Steel Projects
Global banking giant ING took a big step recently as the first major bank to stop financing new unabated steel blast furnaces, new metallurgical coal mines or the expansion of such existing furnaces and mines. The steel sector has long been in the crosshairs of climate activists since it is one of the biggest industrial sources of CO2 emissions. The news was welcomed by environmental groups such as BankTrack, which urged ING to go further by ending “corporate finance and bond facilitation services for companies developing steel infrastructure that depends on metallurgical coal, and companies that have metallurgical coal mining expansion plans.”
Giant Banks Behind Merger that Created the Country’s Largest Natural Gas Producer
Chesapeake Energy and Southwestern Energy merged last week in an agreement valued at $7.4 billion or $6.69 per share — creating one of the country’s largest natural gas producers. The deal will almost certainly face scrutiny as mergers and acquisitions continue in the energy industry. The giant, which will soon have a new name, aims to expand production and gain “access to premium markets to supply growing global natural gas demand.” Major financial institutions involved in the deal include lead financial adviser Goldman Sachs and JPMorgan Securities LLC as financial adviser — though both banks have made commitments to help transition their financing from fossil fuels to renewables in the coming decades.
Copyright 2023 Capital & Main
New Mexico
Think New Mexico Hosts Four 2026 Summer Leadership Interns To Assist In Researching And Developing Policy Proposals – Los Alamos Daily Post
Gathered for a luncheon Tuesday at La Plazuela at La Fonda Tuesday in Santa Fe, front row from left, Think New Mexico 2026 Summer Leadership Intern Viviana Ornelas, Board President Roberta Ramo and Intern Marly Fisher. Back row from left, Think New Mexico Field Director Noah Apodaca, Intern Ian Hernandez, Think New Mexico Board Secretary Liddie Martinez, Intern Awlen Salazar and Healthcare Reform Director Lauren Leland. Courtesy/TNM
Gathered Tuesday at La Plazuela at La Fonda in Santa Fe, front row from left, Think New Mexico 2026 Summer Leadership Intern Viviana Ornelas, Board President Roberta Ramo and Intern Marly Fisher. Back row from left, Think New Mexico Intern Ian Hernandez, Think New Mexico Board Secretary Liddie Martinez and Intern Awlen Salazar. Courtesy/TNM
Think New Mexico News:
Each summer Think New Mexico offers four paid Leadership Internship positions to college or graduate students. Interns have the opportunity to meet with Think New Mexico board members and leaders in state government, as well as to assist Think New Mexico’s staff in researching and developing policy proposals.
The 2026 Summer Leadership Interns include:
Marly Fisher grew up in Albuquerque and graduated from Albuquerque Academy in 2023. As a senior in high school, she and three peers spearheaded a successful effort to pass a bill implementing period products in New Mexico’s public schools. She has since interned for Representatives Melanie Stansbury and Gabe Vasquez. Fisher is a senior in the dual degree program between Sciences Po Paris and Columbia, majoring in Political Philosophy and History, and serving as Senior Editor of the Columbia Political Review. She is passionate about improving education in New Mexico.
Ian Hernandez was born and raised in Santa Fe and graduated in the top 1% of his class from the MASTERS Program Early College Charter School. He was a 2023 recipient of the Davis New Mexico Scholarship, which allowed him to attend and graduate from the University of Denver this past June. Hernandez earned his B.A. in Socio-Legal Studies and History and hopes to begin law school in the fall of 2027. As an undergraduate, He interned with U.S. Sen. Michael Bennet (D-CO). He also worked as a teen journalist for the Santa Fe New Mexican, and as a teacher and tutor for Breakthrough Santa Fe. Hernandez hopes to use his education and life experiences to improve the lives of as many people living in New Mexico and the American Southwest as possible.
Viviana Ornelas is a Santa Fe native who graduated as Valedictorian of her Capital High School class. She received Davis and LANL scholarships to study at the University of Chicago, where she is earning a B.A. in Psychology and Public Policy with a minor in Education and Society. In high school, Viviana led a chapter of the New Mexico Dream Team. As an undergraduate student, she has worked as a research assistant in Dr. Levine’s Cognitive Development Lab where she helped conduct studies to understand the relationship between solving math word problems and spatial skills. Ornelas has also worked as a tutor for the Neighborhood Schools Program in Chicago and a teacher for Breakthrough Santa Fe. She hopes to return to New Mexico to pursue a career in education policy.
Awlen Salazar is a graduate of New Mexico State University (NMSU), where he earned a B.A. in Political Science with minors in Public Administration & Policy and Public Law. He is pursuing a Master of Public Policy at the University of New Mexico. Throughout his time at NMSU, Salazar was a part of the Associated Students of NMSU, where he held roles in the legislative and executive branches as public relations officer and as one of three standing committee chairs for the Senate. At the start of his senior year, Salazar re-chartered the NMSU College Democrats after the club’s two-year hiatus, and he served as President of the club until his graduation in May 2026. Since then, he continues to be involved in the Young Democrats of New Mexico, where he now serves as National Committee Representative. Off campus, Salazar worked closely with nonprofit sector leaders throughout Doña Ana County. In the summer of 2025, he interned for the Doña Ana County Resilience Leaders, where he helped advocate for policies to mitigate adverse childhood experiences (ACE’s) and expand access to affordable housing. Salazar also worked with NM Comunidades en Accion y De Fé (NM CAFé) as Social Media Associate.
Think New Mexico is New Mexico’s think tank – a results-oriented think tank whose mission is to improve the lives of all New Mexicans, especially those who lack a strong voice in the political process. It fulfills this mission by educating the public, the media, and policymakers about some of the most serious challenges facing New Mexico and by developing and advocating for enduring, effective, evidence-based solutions.
Its approach is to perform and publish sound, nonpartisan, independent research. Unlike many think tanks, Think New Mexico does not subscribe to any particular ideology. Instead, because New Mexico is at or near the bottom of so many national rankings, its focus is on promoting workable solutions that will lift all New Mexicans up.
Consistent with its nonpartisan approach, Think New Mexico’s board is composed of Democrats, Independents, and Republicans. They are statesmen and stateswomen, who have no agenda other than to see New Mexico succeed. They are also the brain trust of this think tank.
Think New Mexico began its operations Jan. 1, 1999. It is a tax-exempt organization under section 501(c)(3) of the Internal Revenue Code. In order to maintain its independence, Think New Mexico does not accept state government funding. However, contributions from individuals, businesses, and foundations are encouraged, appreciated, and tax-deductible.
As an independent, statewide, results-oriented think tank, Think New Mexico measures its success based on changes in law or policy that it helps to achieve.
Think New Mexico’s results include:
- Making full-day kindergarten accessible to every child in New Mexico;
- Repealing the state’s regressive tax on food and successfully defeating efforts to reimpose it;
- Creating a Strategic Water Reserve to protect and restore New Mexico’s rivers;
- Establishing New Mexico’s first state-supported Individual Development Accounts to alleviate the state’s persistent poverty;
- Redirecting millions of dollars a year out of the state lottery’s excessive operating costs and into college scholarships
- Reforming title insurance to reduce closing costs for homebuyers and homeowners who refinance their mortgages
- Winning passage of three constitutional amendments to professionalize and streamline New Mexico’s Public Regulation Commission
- Modernizing the state’s regulation of taxis, limos, shuttles, and moving companies
- Creating a one-stop online portal to facilitate business fees and filings
- Establishing a user-friendly health care transparency website where New Mexicans can find the cost and quality of common medical procedures at any hospital in the state
- Enacting the New Mexico Work and Save Act to make voluntary state-sponsored Individual Retirement Accounts accessible to New Mexicans who lack access to retirement savings through their jobs;
- Making the state’s infrastructure spending transparent by revealing the legislative sponsors of every capital project;
- Ending predatory lending by reducing the maximum annual interest rate on small loans from 175% to 36%;
- Repealing the tax on Social Security for middle and lower-income New Mexicans with incomes under $100,000 as individuals or $150,000 as married couples;
- Enhancing the training and transparency of local school boards;
- Leading a campaign to make financial literacy a high school graduation requirement, now in place in 46 districts reaching nearly 48% of New Mexico students; and
- Establishing a $2 billion permanent trust fund for Medicaid.
Think New Mexico is headquarters in the historic Greer House at 505 Don Gaspar in Santa Fe, at the corner of Paseo de Peralta and Don Gaspar, directly across the street from the state Capitol. To learn more, visit thinknewmexico.org.
New Mexico
The Chinese immigrants trafficked on New Mexico’s weed farms – High Country News
New Mexico
McCauley Springs Fire Reaches 100% Containment
The McCauley Springs Fire in the Jemez Ranger District, east of Battleship Rock, is 100% contained at 712 acres.
The fire was reported on Wednesday, June 24, 2026. The Northern New Mexico Zone Type 3 Incident Management Team (IMT), led by Incident Commander Luke McLarty, initially managed the fire before the Southwest Area Incident Management Team 3, under Incident Commander Matt Rau, took over. From June 26 to July 4, this team handled operations, after which command returned to the Jemez Ranger District. Under a Type 4 organization, firefighters worked to cool remaining hot spots and secure firelines, reaching full containment on July 13.
Although the fire is fully contained, visitors should remain aware that burned areas can present hazards. When visiting fire-affected areas, watch for changing conditions, hazard trees, unstable terrain, and other post-fire hazards. Suppression repair work may continue in some locations, and the public is asked to use caution around personnel and equipment and provide crews with plenty of space to work.
A temporary closure order for the burned area remains in place through August 11, 2026. The full order and map can be found on the Santa Fe National Forest website under Alerts. Battleship Rock, Jemez Falls Campground and Group Area, the Jemez Falls Trailhead, San Diego Overlook, and the East Fork Trail from Battleship Rock to Highway 4 will remain closed until further notice for public safety.
A multi-disciplinary Burned Area Emergency Response (BAER) team evaluated the burned area to identify risks to human life, property, and critical resources. Over 80% of the fire was mapped as low soil burn severity, meaning most tree canopies and ground cover remain intact, reducing the risk of erosion and runoff. About 12% of the area showed moderate burn severity, with patchy ground cover loss and some water-repellent soils. Less than 1% was classified as high burn severity, where vegetation and soil were heavily impacted. The full summary can be found on the Santa Fe National Forest website.
For Santa Fe National Forest news and updates visit our website and social media pages (Facebook and X).
About the Forest Service: The Forest Service has brought people and communities together to answer the call of conservation for more than 100 years. Grounded in world-class science and technology — and rooted in communities — the Forest Service connects people to nature and recreation opportunities. The agency manages 193 million acres of public land, supports the nation’s forest industry and energy needs, and operates the largest and most respected wildland fire and forestry research organizations in the world. By providing assistance to state and private landowners and working with tribes and other partners, the Forest Service also helps steward an additional 900 million forested acres within the U.S.
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