1. A processor, comprising: hard-coded logic to execute a virtual machine monitor (VMM) to present a plurality of virtual machines to guest software, the plurality of virtual machines including a first virtual machine (VM) to issue a power management command to bring a computer system to a lower power mode, the virtual machine monitor to determine, in response to trapping the power management command and based on a global power management policy, whether to emulate a resource available to the first virtual machine and to emulate the resource in response to the determining.