A group of 15 California Democratic lawmakers who previously supported the state’s cap-and-invest climate program is now calling for a reevaluation of proposed amendments to the policy. They warn that these changes could destabilize the energy market and lead to higher prices for consumers, particularly affecting gas prices, which could rise by over $1 per gallon by 2030 according to Chevron.
The lawmakers addressed their concerns in a letter to the California Air Resources Board (CARB), emphasizing that fast-tracking energy transitions could create long-term market instability and supply imbalances. They highlighted the strain on households due to rising energy costs, arguing that California’s climate leadership should not come at the expense of working families.
The letter signals a growing political clash in Sacramento, as regulators are set to finalize updated rules for the cap-and-invest program later this year. This situation raises fears among oil companies that stricter regulations could drive refineries out of state, exacerbating the energy crisis.
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