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New Mexico's Oil Reserves Seen as Major Opportunity by U.S. Energy Secretary

Guavy AI Editorial Team
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U.S. Energy Secretary Chris Wright visited Hobbs in New Mexico on Tuesday as part of his 'Great American Energy Comeback Tour', touting record-breaking domestic oil and gas production during President Donald Trump's second term.

The tour highlighted the Permian Basin, which covers southwestern New Mexico and west Texas, producing 6.6 million barrels per day of crude oil in 2025 - making up 48% of total U.S. oil production.

New Mexico has seen a windfall from high oil prices due to the Iran war, with revenues projected to reach roughly $850 million.

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