After years of attacking an industry tens of millions of Californians depend on every day, policymakers are now refocusing efforts on ensuring an adequate supply of gasoline.
California’s hostile, high-cost policy environment slashes profitability and discourages investment in fuel production. Consumers and businesses are paying the price.
At a recent oversight hearing, regulators said the state needed to support in-state oil production and refining as California faces growing fuel supply challenges.
Declining in-state crude production likely means higher fuel costs as refineries turn to more expensive marine imports – or shut down completely due to lack of supply.
Having a blunder-prone state government manage fuel production is a terrible idea. But at least it might give Sacramento a sense of its costly policy choices.