State must start shift away from fossil fuels

New Mexico needs to start diversifying and ultimately shifting to a renewable energy economy. Oil and gas is a finite resource, and the boom and bust nature of the business routinely cripples our state. By tying our economy to this single industry, New Mexico found itself $60 million in debt last year.

In the oil and gas industry, it’s not the company that pays the price for those booms and busts, it’s the workers who face random hires followed by regular rounds of layoffs. Tying our state’s economy to this industry helps major multinational corporations, which quickly take their money out of New Mexico to their corporate headquarters in Texas and Oklahoma, often at the sake of everyday New Mexicans. The boom and bust cycle keeps New Mexico’s workers tied to a single industry — one that faces the real prospect of regular unemployment.

Starting an ambitious transition to a renewable energy economy now gives New Mexico workers options. The renewable energy market is outpacing the whole of the United States economy. In fact, solar jobs are growing so rapidly here in New Mexico that they have more vacancies than they can fill. In short, starting a transition to renewable energy helps the state by putting more New Mexicans to work.

New Mexico is blessed with 300 days of sunshine a year, and its eastern plains are ideal sites for wind energy development. In a state with few job options, attracting renewable energy companies and expanding the renewable energy economy can bolster the state economy, provide more options for our workforce, and help create a diversified energy portfolio to help secure the future for our children and grandchildren.

Oil and gas will continue to be part of a diversified energy portfolio in New Mexico, but now is the time to embrace new energy sources as well. The oil and gas industry itself has started moving in the renewable direction. Look around the state and you will see solar-powered pump jacks and motors to run oil and gas production. If the oil and gas industry recognizes the ability of renewables to supplement its production, why shouldn’t the state of New Mexico seek ways to diversify its economy, provide for its workers and move the state to more reliable sources of energy development?