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Western Promises
Gaze into the abyss of Cali’s cap-and-trade


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California-based oil refineries are fixing to take the brunt of this double whammy; not least because, according to a major study undertaken by the Boston Consulting Group, achieving the 10 percent reduction in carbon intensity is basically impossible for gasoline producers. Since the full production cycle has to be taken into account, even most biofuels and other alternatives can’t meet the 10 percent reduction standard, and those that do can’t be produced in sufficient quantities. Today, the state’s gasoline market is conveniently self-sufficient; demand is more or less met by in-state supply. But if CARB has its way, refiners could begin exporting fuel en masse because it can’t be sold in California, leading to serious gas shortages as early as 2015. By 2020, as many as eight of the state’s 14 refineries could close, eliminating 50,000 jobs, not including indirect job losses down the stream. And yes, this is counting the fabled “green jobs” that will be created, mostly out of state, by the new regulations.

Oh yeah, and consumers could be paying as much as $1.83 more per gallon at the pump, in a state that already has some of America’s most expensive gas (over $4 a gallon, at last check).


Contents
June 17, 2013    |     Volume LXV, No. 11

Articles
Features
Special Energy Section
Books, Arts & Manners
  • Jonah Goldberg reviews The End Is Near and It’s Going to Be Awesome: How Going Broke Will Leave America Richer, Happier, and More Secure, by Kevin D. Williamson.
  • Theodore Dalrymple reviews Brainwashed: The Seductive Appeal of Mindless Neuroscience, by Sally Satel and Scott O. Lilienfeld.
  • Galen Mac Caba reviews Strange Rebels: 1979 and the Birth of the 21st Century, by Christian Caryl.
  • Jay Nordlinger discusses James Levine, one of the great conductors of our age.
  • Ross Douthat reviews Star Trek: Into Darkness.
  • Richard Brookhiser discusses summer weeds.
Sections
The Long View  .  .  .  .  .  .  .  .  
Athwart  .  .  .  .  .  .  .  .  
Poetry  .  .  .  .  .  .  .  .  
Happy Warrior  .  .  .  .  .  .  .  .