A recent report from Taxpayers for Common Sense found below-market royalty rates already cost New Mexicans $13.9 billion between 2013 and 2024, and that number will only grow under the new rule. Interior claims lower royalties spur more drilling, but in a state with some of the nation’s richest oil and gas potential, that logic doesn’t hold. It’s like slashing the price of a historic adobe on Canyon Road, hoping for more buyers.