NM regulators repeal carbon cap and trade rules

ALBUQUERQUE, N.M. (AP) — New Mexico's participation in a regional cap and trade program aimed at curbing greenhouse gas emissions became more unlikely Monday with a unanimous vote by state regulators.

The decision by the Environmental Improvement Board to repeal the cap and trade rules came in response to petitions filed by New Mexico's largest electric utilities, oil and gas developers and others who feared the rules would push businesses and jobs to neighboring states.

Gov. Susana Martinez, a critic of regulating carbon emissions at the state level, was pleased with the board's decision, spokesman Scott Darnell said.

"This is a regulation that failed to pass the Legislature and was instead rushed through without sufficient science, with even some proponents admitting that it wouldn't have a tangible positive impact on the environment," Darnell said. "It was a regulation that threatened jobs and would have burdened our families with higher energy costs."

Members of the New Mexico Oil and Gas Association agreed, saying it was bad public policy for New Mexico to unilaterally take on an issue that is global in scope.

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