Moments ago, the Senate Conservation Committee gave a do pass recommendation to SB 4 on a vote of 5-4 sending the measure along to the Senate Finance Committee for further consideration. Senator Joseph Cervantes (D-Dona Ana) joined the committee’s three Republicans in opposition. A multitude of business groups, including the Chamber, stood in opposition. The Chamber’s concerns are many, but at the top of the list is the negative effects the bill would have on the oil and gas industry. SB 4 calls for eliminating all greenhouse gas emissions by 2050 and cutting them by 45% in the next five years.
The bill reaches into every sector of the economy: electric generation, transportation, all forms of waste, manufacturing and extraction of raw materials, agricultural and forest products and, of course, oil and gas. The scale and scope of the bill is ill defined, lacking a realistic plan for implementation. In short, the legislation is too aggressive and ripe with unintended consequences. The bill now moves to the Senate Finance Committee. We’ll give you a rundown of the hearing in tonight‘s RoundUp.