The Los Angeles Times reports that a Stanford University energy economist believes California’s aggressive climate change policies could drive up gasoline prices to the point where the system loses political support:
When Stanford University energy economist Danny Cullenward looks at California’s policies on climate change, he sees a potential time bomb. The state wants to slash greenhouse gas emissions so deeply in the coming years that oil refineries and other industries could face skyrocketing costs to comply with regulations, driving up gasoline prices until the system loses political support. If that happens, an effort touted as an international model for fighting global warming could collapse.
Drastically limiting emissions in California could end up requiring the purchase of millions of electric vehicles and shuttering natural gas facilities:
The state’s transition toward low-emission technology could prove expensive over time, requiring the purchase of millions of electric vehicles and shuttering natural gas operations in favor of new solar plants.
One proposal being considered is sharing control of California’s electricity grid with other state, which concerns state unions because the proposal could lead to energy projects being developed in other states:
The idea would require California to share control of the electricity grid with other states, which unnerves some lawmakers and advocates. Unions also fear changes that would make building energy projects more attractive outside of California.