WRITTEN BY WSJ EDITORIAL BOARD ON JAN 3, 2024. POSTED IN LATEST NEWS
Chevron Tells California Why They’re Losing Jobs And Investment: Anti-Energy Policies
Congratulations to California Gov. Gavin Newsom, who is succeeding at his goal of driving away fossil fuel investment and jobs, even while failing to reduce global CO2 emissions.
See Chevron’s announcement Tuesday that it is writing down its upstream assets in the Golden State owing to “continuing regulatory challenges.” [emphasis, links added]
Chevron’s write-down acknowledges what the company has been telling California lawmakers for some time: Their energy policies are making the state uninvestable.
These include the state’s cap-and-trade program, low-carbon fuel standard, penalty on “excessive” refiner margins, and a 2022 law limiting new drilling within 3,200 feet of homes and schools.
https://climatechangedispatch.com/chevron-tells-california-why-theyre-losing-jobs-and-investment-anti-energy-policies/
