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opinion editorialsThis editorial first appeared in the Albuquerque Journal. It was written by editorial page staff and is unsigned as it represents the opinion of the newspaper rather than the writers
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Saturday, November 06, 2010
Lone Cap and Trade Action Needs Reversal
Sometimes being first to do something historic is commendable. Other times, it's foolhardy.
Tuesday's action by the state Environmental Improvement Board, buried by election-day news, falls in the latter category. The board — on a 4-3 vote mostly along the lines of environmental activists vs. industry supporters — approved what the state calls the most comprehensive greenhouse gas emission regulations in the nation.
The action would, according to the state Environment Department, reduce global warming pollutants through a regional cap on emissions. It would allow the state to participate in a cap and trade program with other Western states and Canadian provinces through the Western Climate Initiative. Problem is, no other state has yet to enact such sweeping rules. Some already have backed away.
New Mexico's plan would take effect in 2012. It would cover about 63 large industrial sources in the state, including electric generators and the largest emission sources in the oil and gas sector but excluding equally large sources on Indian lands. Each source is required to reduce emissions by 2 percent a year and by 15 percent by 2020. But they really don't have to reduce that much. They can buy "allowances" and offsets from other sources and meet the goal.
Gov. Richardson, who pushed for the initiative, called on the federal government to follow suit with its own cap and trade program. But the previous Congress didn't approve cap and trade with President Barack Obama's support. And he's backing away from it in light of the reality that it won't pass the new Congress, either. It has bipartisan opposition.
Gov.-elect Susana Martinez, who opposes cap and trade, said Thursday her staff is already researching the best way to reverse the EIB decision.
Critics have said the program would cost New Mexico revenue and jobs, raise consumer prices by driving up electric rates and put New Mexico at an economic disadvantage with other states. They put the economic loss in excess of $3 billion.
Proponents have said someone needs to take the first serious step to combat climate change, and it might as well be New Mexico.
And while reducing air pollutants is a prudent and commendable goal, it should be pursued with all parties on board — and at the national level. It should not be left up to a seven-member appointed board, even if the state Supreme Court cleared the way.
Martinez is on the right track in seeking to undo a decision that isn't right for New Mexico and has no chance of being effective on such a small scale.
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