ALBUQUERQUE, N.M. (AP) — New Mexico oil and gas regulators have kicked off a public hearing on proposed rules for managing venting and flaring by the industry. Oil and gas revenues underpin the state’s budget, but Gov. Michelle Lujan Grisham has promised that her administration would adopt some of the toughest rules in the U.S. for cracking down on methane and other emissions. Under the proposal, operators would need to reduce their waste by a fixed amount every year to achieve an ultimate gas capture rate of 98% by December 2026. Environmentalists are concerned about loopholes, saying the state should prohibit all venting and flaring.