Geologic Carbon Dioxide Sequestration Act
The bill has implications for environmental management and the energy sector in New Mexico. It outlines the responsibilities of carbon dioxide sequestration facility operators and sets parameters for liability once the state assumes control over these facilities. By establishing clear ownership rights regarding pore space in the subterranean strata and regulating the conditions under which CO2 can be stored, SB215 seeks to encourage investment in carbon sequestration technologies. However, contention arises around the perceived expansion of state authority at the expense of private rights, especially concerning landowners near sequestration units who may have competing interests.
Senate Bill 215, known as the Geologic Carbon Dioxide Sequestration Act, aims to regulate the underground sequestration of carbon dioxide in New Mexico. This legislation establishes a framework for unitizing geologic formations for carbon dioxide storage, which includes the formal application process, criteria for unitization, and monitoring procedures. The act emphasizes the importance of ensuring that the CO2 remains contained and does not contaminate surrounding resources such as freshwater or minerals. Through this law, the state intends to address the growing need for effective carbon management to combat climate change, while also advancing technologies for carbon capture and storage.
Notable points of contention include the compulsory unitization process, which requires operators to obtain a certain percentage of landowner consent before proceeding, potentially infringing on property rights. The bill also stipulates that any injected carbon dioxide will be considered the property of the operator until liability is transferred to the state, raising concerns about long-term responsibilities and the local community's stake in environmental management. Critics argue that these provisions may disenfranchise local landowners and reduce their control over natural resources on their property.