Newsom’s Quixotic Quest – Pacific Research Institute

Newsom’s Quixotic Quest

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Two years ago, California governor Gavin Newsom announced that the Golden State had joined the Beyond Oil & Gas Alliance, whose aim is to bring “together national and subnational governments committed to advancing a just transition away from oil and gas production.” This year, he signed a package of bills that the Los Angeles Times described as a continuation of a “fossil fuel crackdown.”

That characterization is apt. Other components of the crackdown include the governor and state attorney general Rob Bonta’s lawsuit against oil companies, a call for a windfall-profits tax at a time when profit margins in the energy sector are declining precipitously, ordinances that block the construction of new gas stations, an oil-industry “transparency” bill likely to damage an already-declining business model, and a de facto ban on new oil wells. These actions are inseparable from the state’s rush to end industrial and transportation carbon dioxide emissions. But California’s leaders don’t appear to have a backup plan if things go awry.

Read the full article at City Journal . . .

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