The q1uestionis what is the source of the CO2. The answer you gave is cola combustion in existing power plants.
That being said, what is the need for acreage in New Mexico? What is produced on that acreage?
I recently visited the Jack Daniels distillery in Lynchburg Tennessee and saw the vast fermentation vats bubbling co2. It would seem the co2 waste product of the fermentation process will also be a source on a pretty large scale.
Last time I ran the numbers, 2x the area of WSMR covers all diesel use in the US - 80 miles square, roughly.
This only works in NM if the bugs can live in salt water - NM is floating on an ocean of it.
Fresh water, not so much.