Newsom’s Climate Policy Backfires

As refineries close, California is importing more foreign oil

WSJ editorial. Excerpts: 

"California has lost roughly a quarter of its refinery capacity since Mr. Newsom became Governor in 2019."

"the state’s burdensome regulations—e.g., its cap-and-trade program, low-carbon fuel standard and threatened tax on “excessive” gross margins—make it uneconomic to operate older facilities."

"California’s refined fuel imports have increased by more than 30% compared to late 2019"

"the state’s anti-fossil fuel regulations is higher CO2 emissions from all that transport to get the oil to California."

"Californians are paying $1.67 a gallon more for gasoline than the national average."