I attended the "Industry: Climate Action Plan Sector-based Community Conversation" on May 15th, focusing on New Mexico's Climate Action Plan. The main objective is a 45% reduction in greenhouse gas emissions by 2030 compared to 2005 levels, aiming for net zero by 2050. In the oil and gas sector, which accounts for about 40% of the state's emissions, attention was given to CO2 and methane emissions.
To address CO2 emissions, proposals included electrifying equipment and increasing CO2 capture requirements. Reactions were mixed; some supported these measures while others expressed concerns about costs and feasibility. For methane reduction, strategies discussed included plugging inactive wells, enhancing leak detection, and boosting state enforcement capacity.
The conversation lacked detailed data or expert insights on the plan's impact and feasibility. Discussions were too broad to provide meaningful evaluations of the plan's quality. However, it was clear that more regulation could be expected for the oil and gas industry.
For further information on New Mexico’s Climate Action Plan or to participate in future Community Conversations, visit: https://www.climateaction.nm.gov/cap/
