Energy transition is critical to New Mexico’s future

New Mexico’s future is dependent on reducing the effects of climate change and ensuring a stable, thriving economy. As a Democrat, a lifelong New Mexican and business owner, I understand and expect a balance of preserving and protecting our state’s natural beauty and maintaining an economic base that employs our families and friends and also funds our education, health care and infrastructure systems.

Since New Mexico passed the Energy Transition Act, the state has continued to work toward a diversified economy through a cleaner fuel option evolution and decreasing our budgetary dependence on the oil and gas industry. The oil and gas industry is the largest contributor to the state coffers and accounts for 10 percent of jobs statewide, generating more than $6.8 billion in total labor income.

The industry is essential to all New Mexicans’ quality of life, but we also know that a future decarbonized economy is crucial for the protection of the environment. Due to current technologies, an energy transition is not easy nor one that will happen overnight. As we move toward decarbonization and cleaner fuel options, New Mexico must utilize proven results to assist with a transition and not cripple the economy.

Carbon capture, utilization and storage, or CCUS, is a group of key technologies that will achieve two goals for New Mexico. First, it will assist in reducing emissions and removing CO2 — both necessary to achieving Gov. Michelle

Lujan Grisham’s net-zero goal by 2050. Second, the utilization of CCUS keeps New Mexicans working and contributing throughout our state’s economy.

New investment incentives and improved technologies continue to further the potential of CCUS, creating a potential for a cleaner environment, thriving economy and real energy transition potential.