New Mexico's Energy Landscape Set for Major Shift with New Regulations and Clean Energy Initiatives
New Mexico is set to see significant changes in its energy landscape. The state's utility regulators will be replaced by a governor-appointed commission later this year. Meanwhile, efforts to reduce methane emissions and promote clean energy are underway, both within the state and nationally.
In a bid to cut greenhouse gas emissions, New Mexico's oil and gas facilities have been found to emit far more methane and other pollutants than previously thought. To tackle this, the state has partnered with its national labs to research and develop zero-carbon hydrogen. Additionally, an energy developer has submitted plans to build a 720 MW pumped hydropower storage facility in southern Idaho.
Nationally, the U.S. Interior Department is collaborating on a $4.7 billion abandoned well plugging program. This bipartisan initiative, funded by the Infrastructure Investment and Jobs Act of 2021, aims to reduce methane emissions and create jobs. Several states, including New Mexico, will benefit from these funds. Furthermore, a powerful magnetic chamber crucial to nuclear fusion research has restarted operations after a six-month maintenance period.
In legal news, ExxonMobil is using a Texas law to defend itself against lawsuits from California cities accusing the company of downplaying climate change. Meanwhile, the Permian Basin is expected to see record oil and gas production levels in February.
New Mexico's energy sector is poised for change, with new regulations, clean energy initiatives, and increased scrutiny on emissions. Nationally, significant investments are being made to plug abandoned wells and support fusion research. However, legal battles surrounding climate change denial persist.
