In March 2024, New Mexico became the fourth member of a group of states, including California, Oregon, and Washington, determined to make their drivers pay to enact California’s Low Carbon Fuel Standard (LCFS). The Rio Grande Foundation, New Mexico’s state-based, free market think tank, partnered with us to determine how much drivers in the Land of Enchantment are likely to pay for being shackled to California’s draconian LCFS. The results aren’t pretty.
AOER’s modeling shows that “[b]y 2040, the regulations will cause gas prices to be 45 cents per gallon higher than they otherwise would be, and diesel prices will be 52 cents higher.” Read the full report here.