💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

US bans new oil and gas leasing around New Mexico cultural site

Published 06/02/2023, 06:40 AM
Updated 06/02/2023, 06:43 AM
© Reuters. FILE PHOTO: Tourists view Pueblo Bonito, one of a series of Puebloan structures in Chaco Culture National Historical Park believed to have been used as ceremonial as well as administrative and trading centers and built over multiple decades between the 9t

(Reuters) - The Biden administration said on Friday it would stop issuing new oil and gas drilling leases within 10 miles of the Chaco Culture National Historic Park, a region central to Pueblo ancestral heritage in northwest New Mexico.

Tribes, conservationists and state officials have long called on the federal government to ban drilling in the area. Structures in the area date back thousands of years, and the park is listed as a World Heritage Site by UNESCO, the United Nations' cultural agency.

President Joe Biden first proposed protecting the area in November of 2021. It is aligned with his goal to conserve at least 30% of federal lands and waters by 2030.

But, the Interior Department ban on new leasing on federal lands around Chaco will last for just 20 years and does not extend to private, state or tribal lands.

"Today marks an important step in fulfilling President Biden's commitments to Indian Country, by protecting Chaco Canyon, a sacred place that holds deep meaning for the Indigenous peoples whose ancestors have called this place home since time immemorial,” Interior Department Secretary Deb Haaland said in a statement.

Haaland, a New Mexican who is the nation's first Native American cabinet secretary, is a member of the Pueblo of Laguna tribe. New Mexico's Congressional delegation introduced a bill this year that would go a step further than the Interior order by permanently protecting the region.

Oil and gas industry groups have opposed withdrawing the lands around Chaco for leasing.

© Reuters. FILE PHOTO: Tourists view Pueblo Bonito, one of a series of Puebloan structures in Chaco Culture National Historical Park believed to have been used as ceremonial as well as administrative and trading centers and built over multiple decades between the 9th and 12 centuries, in Chaco Canyon, New Mexico, U.S. October 21, 2021. Picture taken October 21, 2021.  REUTERS/Dan Grebler

In addition, the Navajo Nation withdrew its support for the plan last month, saying its members could lose potential income tied to those resources.

The U.S. Bureau of Land Management last year estimated that protecting the lands would result in the long-term loss to the federal government of $4.8 million a year in royalties. It also said about 49 jobs would not be created.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.