by Katy Grimes, E&E Legal Senior Media Fellow and California Globe Editor
As Appearing in the California Globe
CARB’s cap and trade program Western Climate Initiative Inc. was registered in Delaware
Wednesday the Globe reported on Chevron’s letter to California Governor Gavin Newsom and the California Air Resources Board warning them of deep concerns and strong opposition to the CARB- proposed amendments to the Cap-and-Invest (formerly cap and trade) regulation, that the state’s few remaining refineries can’t survive, and the California economy could be crippled.
In the letter, Chevron President Andy Walz cautions that the price of gasoline will increase by more than a dollar a gallon by 2030 as a result of this regulatory change, as well as 536,770 petroleum industry jobs could be lost in the state if CARB’s proposal is authorized.
That is because “The proposed regulation will cripple the survivability of the state’s remaining refineries, which will result in California losing the entire industry to this misguided program. This regulation will increase transportation and aviation fuel prices for consumers. It will risk significant job losses, including many high-paying union jobs, while reducing funding for essential public services. It will upend California’s fuels market and threaten critical energy and national security assets.”
The CARB claims they can’t budge on the proposed additional regulations because they are statutorily mandated climate goals. But the California Legislature can, as can the governor if the CARB is going to play chicken with Chevron.
