LEGISLATING ENERGY PROSPERITY
California's green energy policies are stifling the state's economy and harming its people.
From the study:
California implements 218 different energy efficiency regulations, incentives, and tax programs. These include policies to reduce greenhouse gas emissions and energy taxes on families. Despite their intention, these policies fail to achieve their intended goals. For instance, since 2007, total CO2 emissions have fallen over 14 percent nationally while emissions declined 9 percent in California over the same time period.
While its policies are not leading to a larger decline in emissions, Californians are still paying the price. Residential electricity prices are 46 percent higher and business electricity prices are 69 percent higher in California than the national average. Before issues with global oil producers and the COVID-19 pandemic affected both production and demand, the average price of a gallon of gas was 37 percent more expensive in California compared to the nationwide average. Since the COVID-19 disruptions, California’s percentage price gap widened to 55 percent.