What You Need to Know: New Mexico’s Climate Action Plan

What You Need to Know: New Mexico’s Climate Action Plan

I recently attended the “Industry: Climate Action Plan Sector-based Community Conversation” on May 15^th, so that you don’t have to. We discussed the goals in the Oil and Gas sector for the Climate Action Plan. The presenters reiterated that the overarching goal is a 45% reduction in greenhouse gas emissions by 2030, compared to 2005. The goal is then to be net zero by 2050. In the oil and gas industry, which makes up about 40% of the state’s greenhouse gas emissions, the focus was on CO₂ and Methane emissions specifically.

For CO₂ they proposed two main ways to reduce emissions: electrification of equipment, and increased CO₂capture requirements. The response to these was mixed. Some were very supportive, while others raised concerns about the cost and feasibility of electrification and the long-term sustainability of sequestering CO₂. To reduce methane emissions, plugging inactive wells, increasing leak detection and increasing the enforcement capacity of the state were all discussed.

Quite frankly, the whole conversation seemed arbitrary. No real data or expertise was presented on the impact and feasibility of the plan; neither was there a discussion of the long-term ramifications of the proposed steps. The entire discussion was too general to say anything meaningful about the quality of the plan, even if you were a supporter of it. The only real takeaway was that the oil and gas industry can expect more regulation heading its way.

To learn more about New Mexico’s Climate Action Plan or sign up for future Community Conversation events visit: https://www.climateaction.nm.gov/cap/