California Gas Prices: Republicans Warn of Cap-and-Trade Impact
Fort Wayne News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Californias cap-and-trade program faces criticism from Republican lawmakers, who fear proposed changes could hike gas prices by at least $1 per gallon. Currently, Californias average gas price is $5.29, the highest in the nation, while the U.S. average is $3.53. The program caps emissions from big polluters, generating funds for clean energy projects. Lawmakers and Chevron warn that changes could lead to refinery shutdowns and deter new fuel supply investments, threatening jobs and economic growth. Economists urge partnerships with the oil industry to stabilize prices.
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