Modeling the Cost of New Mexico’s Low Carbon Fuel Standard

RGF study finds New Mexico’s “clean fuel standard” will dramatically raise fuel prices.

During the 2024 legislative session (at the behest of Gov. Lujan Grisham) the Democrat-controlled Legislature passed (and Gov. signed) HB 41 which mandated adoption of a so-called “Clean Fuel Standard.”

That bill passed the House narrowly on a 36-33 vote with several Democrats joining Republicans in opposition, but it was enough to get the bill through. Public meetings have been held with final implementation scheduled for sometime in Spring of 2025. New Mexico will then become one of four states with such regulations on the books.