After years of attacking an industry tens of millions of Californians depend on every day, policymakers are now refocusing efforts on ensuring an adequate supply of gasoline.
California’s hostile, high-cost policy environment slashes profitability and discourages investment in fuel production. Consumers and businesses are paying the price.
At a recent oversight hearing, regulators said the state needed to support in-state oil production and refining as California faces growing fuel supply challenges.
Declining in-state crude production likely means higher fuel costs as refineries turn to more expensive marine imports – or shut down completely due to lack of supply.
Forcing oil companies to cover damages from extreme weather will lead to dramatically higher costs for fuel, electricity, natural gas, housing, and everyday goods.
Having a blunder-prone state government manage fuel production is a terrible idea. But at least it might give Sacramento a sense of its costly policy choices.