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California May Overhaul A Key Climate Program — Raising The Cost Of Gas

"The state air board will vote on changes to its landmark clean fuel program that would cut more greenhouse gases but could raise the cost of gas and diesel."

"California plans to overhaul one of its cornerstone climate programs — a decision that could push gasoline prices higher in a state where residents already pay the most at the pump.

On Nov. 8, just three days after an election marked by concerns over rising costs, the California Air Resources Board will hold a public hearing and vote on its plan to amend the Low Carbon Fuel Standard.

The program, which has existed since 2011, is a $2-billion credit trading system that requires fuels sold in California to become progressively cleaner, while giving companies financial incentives to produce less-polluting fuels, such as biofuels made from soybeans or cow manure. The standard has helped the state phase out fossil fuels to clean up air pollution and cut climate-warming gases."

Alejandro Lazo reports for CalMatters October 25, 2024.

 

Source: CalMatters, 10/28/2024