Grimes: Energy Company Warns CARB on ‘The Stark Reality’ Driving In-State Refining Capacity to Zero of CA’s Remaining 7 Refineries

Is the CARB really trying to force all in-state refineries to close?

An energy company you may or not have heard of, which has a huge impact on fuels in California, just sent a letter to the California Air Resources Board Friday, according to a Globe source.

Why?

“To provide comments on the California Air Resources Board’s (CARB) Cap-and-Investment (C&I) program, including the “Proposed Amendments to the California Cap on Greenhouse Gas Emissions and Market-Based Compliance Mechanisms Regulation.”

These proposed amendments are draft amendments to Assembly Bill 1207 by Assemblywoman Jacqui Irwin (D-Thousand Oaks), seeking to extend the cap and trade program to 2045, and legislators are looking at significant changes to the CA emissions trading program – which will likely now be known as California Cap and Invest. also revises offset limits, establishes an emissions containment reserve, and proposes shifting free allowance allocations from gas companies to electric utilities.

PBF Energy Inc. is warning about “the stark reality the impacts the current CARB Cap & Investment program would have because of the state’s remaining 7 refineries. And, CARB’s “Proposed Amendments will only worsen the current state of the program, making costs skyrocket further. If enacted as written, the Proposed Amendments will inevitably drive in-state refining capacity to zero.”