Part 11/14:
Governor Newsom’s rhetoric champions a “low-carbon green growth future,” promising stable fuel supplies and affordable energy. Yet, the reality is starkly different. California’s policies have effectively starved the industry of opportunities and driven out investment. The state’s inability to produce or refine enough fuel has led to dependence on imports, higher prices, and economic fragility.
Despite bland reassurances, the upcoming legislative session underscores the gap between promises and reality. With a deadline of next week to finalize deals before the session concludes, the governor’s proposals—such as permitting new wells via the “two-for-one” policy—appear to be too little, too late.