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).