The New Mexico legislature has passed a measure to enact a clean fuel standard that proponents favorably compare to the LCFS of California.
The Clean Transportation Fuel Standard, passed by the New Mexico state Senate on Wednesday along party lines, was put forward by the state House earlier this month on a slightly more bi-partisan basis (representatives of oil-producing counties in the southern part of the state were largely opposed).
The proposition is expected to become law, as Gov. Michelle Lujan Grisham has expressed support.
The bill outlines a 20% baseline CI reduction by 2030 and 30% by 2040 with a targeted implementation date of July 2026. It also creates a market where companies that produce high carbon intensity fuels can buy credits from clean fuel producers, or from institutions like school districts and utilities that have implemented decarbonization plans.
