New Mexico’s future depends on reducing the effects of climate change and ensuring a stable, thriving economy. As a Democrat, Lifelong New Mexican, and Business Owner, I understand and expect a balance between maintaining and protecting the natural beauty of our state and maintaining an economic base that employs our families and friends, and also funds our education, health, and infrastructure systems.
Since New Mexico passed the Energy Transition Act, the state has continued to work towards a diversified economy by developing a cleaner fuel option and reducing our household dependency on the oil and gas industry. The oil and gas industry is the largest contributor to the state coffers, accounting for 10 percent of the country’s jobs and generating total wages of more than $ 6.8 billion.
Industry is essential to the quality of life for all New Mexicans, but we also know that a future decarbonised economy is critical to protecting the environment. Due to current technologies, an energy turnaround is neither easy nor overnight. As we move towards decarbonization and cleaner fuel options, New Mexico must leverage proven results to aid the transition and not cripple the economy.
Carbon Capture, Use and Storage, or CCUS, is a set of key technologies that will achieve two goals for New Mexico. First, it will help reduce emissions and remove CO2 – both necessary to meet Governor Michelle Lujan Grisham’s net zero target by 2050.
New investment incentives and improved technologies continue to fuel the potential of CCUS, creating potential for a cleaner environment, a thriving economy and real potential for the energy transition.
Ambrose Castellano is State Representative for District 70 and business owner.