Clean fuel standard is good for economy and environment - Albuquerque Journal

Clean fuel standard is good for economy and environment

There is a common misperception improving our environment comes at the cost of our economic well-being. It simply isn’t true. We introduced the Clean Fuel Standard Act, Senate Bill 11, to help us advance many of our state’s ambitions: diversifying our economy, creating new jobs, reducing greenhouse gas emissions and combating climate change.

SB 11 creates a statewide clean fuel standard aimed at reducing emissions from our transportation sector — the second largest greenhouse gas-emitter in the state — by changing the fuels available, not how New Mexicans do things.

By requiring fuel providers that refine, blend, make or import fuel used in New Mexico to gradually reduce the carbon intensity of the transportation fuel itself, we can reduce emissions by 4.7 million metric tons in carbon dioxide equivalent by 2040. That’s like taking 44,000 cars off the road every year for 15 years. A clean fuel standard would not apply to retail gas stations or cause cost increases at the pump.

A clean fuel standard program also invites economic innovation through a voluntary, market-based credit program. The credit program monetizes greenhouse gas emission reductions and allows businesses who want to invest in reducing their greenhouse gas emissions to generate credits. Simply put, one credit generated is equal to one metric ton of carbon dioxide reduced. Credits are then sold to fuel providers whose fuels do not meet the standard.

The possibilities here are nearly endless: utilities could generate credits through sequestering greenhouse gas emissions; marginal oil and gas wells could generate hydrogen fuel and electricity instead of venting or flaring; farmers and ranchers could harness gases created from their operations for sale to an alternative fuel manufacturer or tap into the power of soil sequestration; municipalities could use wasted landfill and wastewater treatment gas to power electric vehicle charging stations, and the list goes on and on. A report by Adelante Consulting LLC found a clean fuel standard in New Mexico would result in $46.3 million in annual investments in decarbonization projects and significant job growth in the clean energy industry. These are living-wage jobs for New Mexico families.

We’re already hearing interest from innovative companies that want SB 11 to pass, incentivizing them to expand their operations to or within New Mexico. We would join just two other states, Oregon and California, in offering valuable credits generated by emissions-reducing technology, getting ahead of a slew of other states currently considering a clean fuel standard. Getting in on the ground floor with a clean fuel standard program would entice new businesses to our state — making New Mexico more competitive than our neighbors.

But the benefits of a clean fuel standard extend beyond the economic. We also know we must do more to reduce our emissions to combat climate change and meet the goals outlined by Gov. Michelle Lujan Grisham.

The 2020 Climate Change Task Force report recently released by the governor shows our current and proposed climate policies will make a dent in greenhouse gas emissions, but the state must take further action to reach its science-based goal of a 45% emissions reduction from 2005 levels by 2030. Plus, seven New Mexico counties are already facing air pollution nearing levels considered unhealthy by the U.S. Environmental Protection Agency: Doña Ana, Eddy, Lea, Sandoval, San Juan and Valencia. The more than 580,000 people that call these counties home deserve to breathe clean air, and we have a responsibility to do what we can to help.

Call your legislators today and ask them to support SB 11. The New Mexico Clean Fuel Standard Act is an opportunity to move our economy in a cleaner direction, creating new jobs and encouraging innovation in new and existing industries. Let’s demonstrate the answer to environment and economy is not either/or; it’s both.

Home » Opinion » Guest Columns » Clean fuel standard is good for economy and environment


Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email yourstory@abqjournal.com

taboola desktop

1
We need a DA who will reduce incarceration
From the newspaper
The recent election of 2nd Judicial ... The recent election of 2nd Judicial District Attorney Raúl Torrez to the state attorney generalR ...
2
Albuquerque Little Theatre brings 'A Tuna Christmas' to stage
ABQnews Seeker
Albuquerque Little Theatre gets in the ... Albuquerque Little Theatre gets in the holiday spirit with "A Tuna Christmas."The prod ...
3
Editorial: Why would CYFD return girl again and again ...
Editorials
On Monday night, Nicholas Clinton was ... On Monday night, Nicholas Clinton was so inebriated that he and his 5-year-old daughter were denied ...
4
Lawmakers discuss new oversight for NM prisons
ABQnews Seeker
Hefty legal settlements over past year ... Hefty legal settlements over past year draw attention, calls for action
5
'Our new Santa': Good Samaritan gifts bike after clothing ...
ABQnews Seeker
Crime occurred Tuesday night at Northeast ... Crime occurred Tuesday night at Northeast Albuquerque nonprofit
6
Fishing Line for Dec. 8, 2022
Fishing Line
CATCHES OF THE WEEK ... CATCHES OF THE WEEK ...
7
New Mexico offers many options to hit the cross ...
From the newspaper
Enchanted Forest Cross Country Ski Area ... Enchanted Forest Cross Country Ski Area set among 600 acres of the Carson National Forest has nearly 19 miles of trails and another 11 ...
8
Fifth-year senior 'Uncle Mo' Udeze mentors his Lobo freshmen ...
ABQnews Seeker
'He’s definitely the big dog in ... 'He’s definitely the big dog in the house,' says one roomie Donovan Dent
9
Lobo football: Freshman All-American enters transfer portal
College
UNM freshman A.J. Haulcy (24) reacts ... UNM freshman A.J. Haulcy (24) reacts with teammates after a play during the Lobos' Sept. 17 home win over UTEP. (Chancey Bush/Journal)A.J. Haulcy, who ...