In Midst Of An Oil Boom, New Mexico Sets Bold New Climate Goals

[thackney]

In Midst Of An Oil Boom, New Mexico Sets Bold New Climate Goals
https://www.npr.org/2019/03/13/702877664/in-midst-of-an-oil-boom-new-mexico-sets-bold-new-climate-goals

New Mexico, a poor but fossil fuel-rich state, is aiming to make itself a national leader in the fight against climate change.

Lawmakers passed ambitious legislation this week that will reshape the state's energy sector by mandating that the state's publicly regulated utilities get all of their electricity from carbon-free sources like solar and wind by 2045.

California and Hawaii are the only other states with 100 percent carbon-free goals on the books, though a handful of other states are currently considering similar targets.

Gov. Michelle Lujan Grisham, who has actively championed the legislation --going as far as to pour coffee for lawmakers before a committee hearing on the bill — is expected to sign it into law this week....

[IsailedawayfromFR]

Hmm, over 20% of the state's income came from oil and gas in 2017, representing over $3 billion in revenue, giving the state a billion $ surplus.

NM gets largest share of oil, gas revenues in 9-state study
https://www.abqjournal.com/1269908/nm-gets-largest-share-of-oil-gas-revenues-in-9state-study.html

I wonder where the fools in Sante Fe believe the income can come from once it eliminates that source?  I haven't read where much royalties accrue to the state from solar panels or wind turbines.

Talk about cutting one's throat.

[Smokin Joe]

Hmm, over 20% of the state's income came from oil and gas in 2017, representing over $3 billion in revenue, giving the state a billion $ surplus.

NM gets largest share of oil, gas revenues in 9-state study
https://www.abqjournal.com/1269908/nm-gets-largest-share-of-oil-gas-revenues-in-9state-study.html

I wonder where the fools in Sante Fe believe the income can come from once it eliminates that source?  I haven't read where much royalties accrue to the state from solar panels or wind turbines.

Talk about cutting one's throat.

Nothing like shooting themselves in both feet with a shotgun. Like Colorado SB 181 (passed the Senate, expected to pass the House, will be a disaster for Colorado's State tax revenue, jobs, real estate market, etc. as well).

[InHeavenThereIsNoBeer]

Hmm, over 20% of the state's income came from oil and gas in 2017, representing over $3 billion in revenue, giving the state a billion $ surplus.

NM gets largest share of oil, gas revenues in 9-state study
https://www.abqjournal.com/1269908/nm-gets-largest-share-of-oil-gas-revenues-in-9state-study.html

I wonder where the fools in Sante Fe believe the income can come from once it eliminates that source?  I haven't read where much royalties accrue to the state from solar panels or wind turbines.

Talk about cutting one's throat.

That article says the revenue comes from production.  Even if NM stopped using gas and oil for electricity completely it's not going to have much of an effect on demand for gas and oil globally.

[Elderberry]

I wonder where the fools in Sante Fe believe the income can come from once it eliminates that source?  I haven't read where much royalties accrue to the state from solar panels or wind turbines.

Talk about cutting one's throat.

In reality though, the legislation does little to impact the oil and gas industry other than ensure that the state phases out gas-fired power as its own energy source.

It does nothing to the export market, which is driving much of the development.

[IsailedawayfromFR]

In reality though, the legislation does little to impact the oil and gas industry other than ensure that the state phases out gas-fired power as its own energy source.

It does nothing to the export market, which is driving much of the development.

So it is your belief that once the state goes all-in on using just power for its utility plants that use renewables that it will be satisfied and not undertake a drastic change to the oil and gas production/transportation sector?

I would say they will most certainly.

[catfish1957]

As our "volt" guy around here, just how economically feasible is this, considering transmission of low intensity power sources?

[Elderberry]

So it is your belief that once the state goes all-in on using just power for its utility plants that use renewables that it will be satisfied and not undertake a drastic change to the oil and gas production/transportation sector?

I would say they will most certainly.

I'm sorry. I just can't comprehend what any of those bleeding heart liberals think. To me, I can't imagine them Killing the Goose that Laid the Golden Egg.

[Smokin Joe]

I'm sorry. I just can't comprehend what any of those bleeding heart liberals think. To me, I can't imagine them Killing the Goose that Laid the Golden Egg.

SB 19-181 in Colorado will likely do just that. Over 230,000 jobs in the balance, not to mention oil revenues from the DJ Basin and elsewhere in the State. Economic suicide.

[Fishrrman]

New Mexico is now a white-minority blue state, like California.

Expect more decisions just like this one in the future.

Demographic changes have consequences...

[thackney]

As our "volt" guy around here, just how economically feasible is this, considering transmission of low intensity power sources?

The real cost would be the power storage needed.  They will have to build solar/wind capacity well above what they normally use.  Then store surplus power for night/clouds/still. 

They won't actually do it.  The costs will be outrageous.  But they will do enough just to make their power costs as high as California before they give up.

Transmission is not an issue.  Transmission, substation and distribution losses add up to about 6~7% of the generated power.

[Hoodat]

I wonder where the fools in Sante Fe believe the income can come from once it eliminates that source?  I haven't read where much royalties accrue to the state from solar panels or wind turbines.

Talk about cutting one's throat.

It doesn't say they will cut down on oil and gas production.  Only on usage.  That means more carbon for China to burn.

[IsailedawayfromFR]

It doesn't say they will cut down on oil and gas production.  Only on usage.  That means more carbon for China to burn.

Once again, if you believe NM switching its power generation needs over to renewables and keep its oil and gas drilling and production unaffected, I have bridge in NM I will gladly sell you.