We all must pay for a successful energy transition

TRACI VAN Der Ploeg’s letter May 2 was quite persuasive regarding the impact of leasing suspensions in southeast New Mexico. Her concern about losses in tax revenues and jobs that are likely to result from reduced extraction activity in her region is probably well-founded.

The American Petroleum Institute reports 5.5% of U.S. jobs are in oil- and gas-related industries. Reductions in employment opportunities in that industry could be severe. It’s also likely that reduction in oil and gas extractions will cause increases in the cost to consumers of gasoline and other petroleum-consuming products. Those increases will be temporary if we plan well.

Climate change is real, and oil and gas extraction, refining and consumption are the largest single sources of greenhouse gases (GHG) in most areas of the globe. Reduction in leases of federally-owned lands could be a signal to all parties that the government is serious about taking real action toward major reductions in emissions.

Regions and communities hardhit by reductions in extraction will need assistance in transitioning from dependence on oil and gas revenue and job sources, either through development of other economic drivers, job education or by relocation. The burden of transitioning should be borne by all U.S. citizens.

Major government spending will be required, and tax increases may be inevitable. Given the economic and social harm being experienced now and worsening in the future, money spent on preventing such a future will seem paltry compared to the cost of unchecked climate change.

Support for real action will depend on how much parents and grandparents care about the world their kids will inhabit.

PAT CROWE Albuquerque