New Mexico’s energy and extractive industries, and related service businesses, are essential components of New Mexico’s base economy, particularly in rural areas in need of job retention and revitalization. Their direct and indirect effects on our economy and standard of living are very significant. They provide and create new high wage jobs for their employees, whose spending in turn has significant secondary economic development and job creation effects in many other sectors of the economy. Further, the indirect influences on private industry development of all kinds would ensure a healthier balance between public and private economy segments in New Mexico as opposed to state and federal contracts and spending. Finally, it should not be forgotten that production of natural resources also generates substantial tax revenue for state and local governments. The development, adoption, and implementation of clear and specific rules that provide a stable, predictable regulatory environment for New Mexico’s energy and extractive industries are critical to the economic success of the state.