Clean Fuel Standard Act
February 2024: New Mexico has signed into law HB 41.
The Clean Transportation Fuels Standard aims to establish benchmarks aimed at reducing the carbon intensity of transportation fuels by 20% before 2030 and by 30% before 2040.
The standard is projected to create an estimated $470 million in investment, along with 1,600 permanent jobs and 2,300 construction jobs. Gene Harrington, BIO’s Senior Director of State Government Affairs, Agriculture & Environment, notes this shift towards biofuels will also drive investment in industries like forestry and dairy.
