近距离内射合集

Other than Clyde Tingley, perhaps no other governor had a more negative effect on New Mexico energy policy than Bruce King.

During King鈥檚 first term (1971-1975), the Arab oil embargo, environmental regulations and the end of the depletion allowance in 1975 dovetailed with the end of a 15-year streak (1959-1973) in which New Mexico's annual oil production exceeded 100 million barrels. 

For New Mexico oil producers, the beginning of the end of the depletion allowance came in 1970. That was when a moderate Democrat, a Santa Fe native whose workspace had been rangelands, was elected governor.

King won the first of three nonconsecutive terms the same year that President Richard Nixon, a Republican, established the Environmental Protection Agency through Reorganization Plan No. 3. The cohort of policymakers supporting the act included members of both parties and even those identifying as moderates or conservatives.

The agency was designed to simplify the enforcement of measures such as the Clean Air Act of 1963. This act was intended to monitor the emission of air pollutants such as benzene, which helps gasoline-powered engines avoid possible spontaneous combustion.

As a follow-up to the EPA鈥檚 establishment, King earmarked part of the funding and the personnel of the Health and Social Services Department solely for the purpose of enforcing all federal statutes and standards. King, like Nixon, used the power of the pen.

Instead of simplifying enforcement, the EPA鈥檚 establishment made life more complicated for oil and gas producers in New Mexico. The first problem with the mandates was that oil supplies were struggling to keep up with demand. It was a columnist for the Carlsbad Current Argus who argued that importing oil would help offset supply shortages at home and bypass objections that environmentalists raised toward the construction of the Trans-Alaska Pipeline System.

The second problem with the mandates was that the upgrades to drilling equipment, however necessary they were for meeting emissions standards, were not going to be cheap. And money was not as plentiful to the American oilman 鈥� especially after the depletion allowance was reduced in 1969. For every $1,000 that an oilman made, the amount of money that he could exempt from tax assessments dropped from $275 to $220 in 1969. The price of oil stagnated at around $3 per barrel for much of the 1960s. And American refiners imported more than 514 million barrels of oil in 1969, a 50% increase from 1959.

New Mexico oil producers set a record with more than 129 million barrels of crude in 1969, but drilling became more expensive. For every foot a drilling rig dug, a producer paid $13 in 1971. Each foot a drilling rig dug cost $22 two years later. New Mexico oil production fell from 129 million to 100 million in just four years.

Oil production continued to fall even after prices rose from $3 to $12 per barrel in the wake of the Arab oil embargo. Dr. Frank DiLuzio, a top adviser to King, called for modifications to the depletion allowance. As he insinuated that oil producers were investing the tax-free money in other ventures, he also called for depletion allowances to be used in no other venture but oil.

Now, in 2026, debates continue over when the era of cheap oil will end. For all intents and purposes, though, the end of consistently cheap oil had already come 鈥� in 1970.

Matthew M. Day is  an independent scholar/historian from Lubbock, Texas.  He is the author of 30 books, including 鈥淟ubbock, Levelland, Baghdad, Washington; The Oil Empire That Wasn't Book I,鈥� and 鈥淭he Oil Empire That Wasn't Book II.鈥�  He previously wrote a column for the Seminole (Texas) Sentinel.  His website is .