PRI’s California Energy Survey Assesses Potential Impact of AB 32
San Francisco – California needs a more rational and responsible approach to energy-policy in order to reduce regulatory uncertainty in the marketplace and attract new investment, according to a Pacific Research Institute report released today.
Lights On: California Energy Policy Survey, Second Edition, provides facts about California’s energy system and evaluates critical energy policies such as: What effect will California’s landmark law on greenhouse gases have on energy price and reliability? Has the public-policy tide shifted on offshore oil exploration and development? Will the moratorium on expanded nuclear power survive in the face of a slow-speed energy crunch?
Among the issues discussed in the report is the passage of AB 32, California’s Global Warming Solutions Act of 2006, which is supposed to create the world’s first comprehensive regulatory program to achieve quantifiable, cost-effective reductions of greenhouse gases, while also granting unprecedented powers to the California Air Resources Board (CARB).
“Cuts in greenhouse gases may be necessary, but it is innovation, not regulation, that will bring the breakthroughs of our energy future,” said report author Thomas Tanton, a senior fellow in Environmental Studies at the Pacific Research Institute. “Regulations intended to reduce greenhouse gases must be paired with a commitment to protect consumers and jobs in California.”
Mr. Tanton provides key reforms such as increasing energy supply options to drive down costs and improve reliability. This goal can be achieved by embracing nuclear power and offshore drilling, and by authorizing the construction of new refineries for the first time in more than three decades.
“California has one of the most complex energy policy and regulatory systems in the nation,” said Mr. Tanton. “California is blessed with entrepreneurs, inventors, and vast natural and energy resources. Yet California tilts to government intervention in energy markets, a trend harmful to consumers and the economy, and often with little benefit to the environment.”
To download a copy of Lights On: California Energy Policy Survey, Second Edition, click here. To set up an interview with the author, please contact PRI’s Press Office at 415.955.6120 or [email protected].
For 29 years, the Pacific Research Institute (PRI) has championed freedom, opportunity, and individual responsibility through free-market policy solutions. PRI is a non-profit, non-partisan organization. For more information please visit our web site at www.pacificreseach.org