Gov. Gavin Newsom signed on Friday Climate and environmental bills The oil industry aims to lower electricity costs, stabilize gasoline prices and support California’s struggling oil industry.
Newsom told state lawmakers and representatives of Labor, business, climate and energy groups at the bill signing ceremony at the California Academy of Sciences in San Francisco The package is compromisedaims to push California towards a clean energy future, while still ensuring the state has enough affordable gasoline to meet drivers’ needs.
“Everyone recognizes this moment and works together on their differences, which is not trivial,” Newsom said.
The signed bill includes extending the state’s national leadership Hats and deals Plans by 2045. The program, renamed after caps and investments, limits greenhouse gas emissions and raises billions of dollars for the state’s climate priorities by allowing large polluters to buy and sell their unused emission allowances in quarterly auctions.
In the months of rising prices, caps and investment plans should pool up to $60 billion during 2045 to reduce utility bill costs for California households and small businesses, officials said. Another $20 billion will be spent on high-speed rail projects in the state, while public transportation will be $12 billion.
Newsom’s office said California’s greenhouse gas emissions have fallen by 20% since 2000, while the state’s GDP has increased by 78% over the same period.
The most controversial bill in packaging is Senate Bill 237which will allow oil and gas companies to drill Up to 2,000 wells per year By 2036, in Kern County, California’s Petroleum National Center. The bill effectively circumvented a decade of legal challenges, trying to prevent the county from producing about three-quarters of county-level drilling.
Some environmentalists burned a rule on this trade-off and a rule that would allow the governor to suspend the state’s summer gasoline fuel standard – if prices soar for more than 30 days, or if possible, it would reduce emissions but increase the cost of the pump.
The bill was introduced to stabilize part of volatile natural gas prices as Valero and Phillips 66 prepare to close refineries in the San Francisco Bay area and South Bay in Los Angeles County, which is estimated to account for 20% of the state’s refining capacity.
Environmental groups say the bills still represent progress, especially as the Trump administration and Republican-led Congress leave clean energy policy.
“DC is not led yet,” said Katelyn Roedner Sutter, director of the California Environmental Defense Fund. “California.”
pass General Assembly Act 825California also laid the foundation for the electricity market in western states. The bill aims to make it easier to share solar and wind energy across state lines, meaning California can import wind energy from gusts like New Mexico and Wyoming, while importing too much solar energy.
“Today is a huge win for the Golden State,” said state Senate President Pro Tem Mike McGuire (D-Healdsburg). “If you pay utility bills and you want to lower your bills, you win. If you drive and hate the surge in gas prices, you win. If you want to have clean drinking water, you win. If you want to breathe clean air, you win today.
