"New Mexico regulators are set to decide Tuesday whether to adopt a state proposal that would establish a cap-and-trade program to control greenhouse gas emissions.
The New Mexico Environmental Improvement Board is considering a petition by the Environment Department that would allow the state to participate in a regional cap-and-trade program with other Western states and Canadian provinces that make up the Western Climate Initiative.
Under the state's plan, the program would not be implemented unless there were sufficient greenhouse gas allowances to make trading efficient and cost-effective. It also includes a sunset provision if the federal government were to implement its own program.
State officials said the cap-and-trade program would be a first step toward getting a handle on New Mexico's emissions.
New Mexico's coal-fired power plants and the oil and gas industry pump about 24 million metric tons of carbon emissions into the air each year. The state aims to curb the emissions of those that emit 25,000 metric tons or more." More>>>>