$6 gas and refinery fears collide with California’s climate ambitions
The proposal could cut auction revenue by about $2 billion a year while giving refineries and other companies free permits for clean energy investments.
- The California Air Resources Board is considering a proposal to provide as much as $4 billion in free emission permits to refineries and major polluters in exchange for clean energy and efficiency commitments.
- Anthony Martinez, a spokesman for Gov. Gavin Newsom, said the changes are necessary to keep the carbon market "durable" and "affordable" amid mounting refinery closures and gas prices topping an average of $6 a gallon.
- Quarterly auction revenue for state programs could drop to about $2 billion from roughly $4 billion, while the Climate Credit could shrink by $1.7 billion, according to analysis; the oil and gas sector spent $10.3 million lobbying Sacramento in the year's first three months.
- Sen. John Laird, the state Senate budget chair, warned at a May 6 hearing that the proposal "flies against many things we negotiated just last fall" and could jeopardize the carbon market deal.
- As the board nears a May 28 vote, this fight exposes tensions within Newsom's agenda as California attempts to balance emissions targets with economic concerns and refinery stability.
12 Articles
12 Articles
The Bakersfield Californian
$6 gas and refinery fears collide with California’s climate ambitions
California is considering handing oil refineries and other major polluters billions of dollars in free emission allowances just as the state says carbon reductions need to come faster than ever.
$6 gas and refinery fears collide with California’s climate ambitions - Energy News Beat
$6 gas and refinery fears collide with California’s climate ambitions By Alejandro Lazo, CalMatters The Chevron refinery in Richmond is located behind a nearby neighborhood on Feb. 21, 2024. Photo by Loren Elliott for CalMatters This story was originally published by CalMatters. Sign up for their newsletters. California is considering handing oil refineries and other major polluters billions of dollars in free emission allowances just as the sta…
California has 6 weeks of gas supply. After that, it gets expensive
This story was originally published by CalMatters. Sign up for their newsletters. Eleven weeks into the Iran war and a global energy shock, California drivers are paying the highest gas prices in the nation, an average of $6.15 a gallon this week. The pain at the pump is colliding with California’s ambitious push away from fossil fuels, as refinery closures, supply disruptions and a deepening debate over reliance on imported oil and gas raise ne…
Coverage Details
Bias Distribution
- 67% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
