The issue: Several major oil companies have agreed to help spur infrastructure in rural Permian Basin.
We say: Way to help out Big oil! We hope this is the first step in helping the area’s biggest needs.
We all know the economies of Lea and Eddy counties are going gangbusters. The Permian Basin is experiencing the painful woes of not enough housing, roads being overused because of oilfield activity and the increase in enrollment in area schools.
But just this week multiple major oil companies announced an agreement and pledged up to $100 million to help the areas in Permian Basin spur infrastructure.
The 17 major oil companies that have signed onto the alliance are Anadarko, Apache, Chevron, Cimarex, Concho, Devon, Diamondback, Encana, Endeavor, EOG Resources, Halliburton, Occidental, Parsley, Pioneer, Schlumberger, Shell, and XTO Energy.
“The Permian is poised to provide energy the world needs, create tens of thousands of local jobs, and generate billions in state and local tax revenues. But this potential can only be fully realized if we simultaneously address significant infrastructure challenges and preserve the quality of life that makes so many want to live and work here,” the energy companies said in an op-ed published last Nov. 18 in area newspapers. “With this goal in mind, our companies have formed the Permian Strategic Partnership, an industry resource that will partner with local leaders and stakeholders to strengthen communities across West Texas and southeast New Mexico for decades to come.”
The Permian Strategic Partnership will be holding meetings throughout the Permian Basin to study the issues and find where it can be of added value by local government and private enterprise.
We applaud the unprecedented alliance being formed and hope it serves as a catalyst to further address the road systems, school systems, healthcare networks and housing.