Remember: there is only state in the union that is dependent on OPEC (Saudi Arabian) oil and the OPEC basket is priced $5 to $10/bbl higher than WTI. This is not rocket science.
President Trump remains the smartest "politician" in the room.
A note to a reader:
The article: from The San Luis Obispo Tribune --Each progressive politician has to do "one better" than his/her predecessor.Jerry Brown banned off-shore and anything related to off-shore.His predecessor can do only one thing to do "one better": ban on-shore.
Will Newsom end oil drilling in California?
Many environmentalists are betting yes.
California’s legacy of oil drilling should be just that, many environmentalists argue – relegated to the history books.
They are urging Gov. Gavin Newsom to ban new oil and gas drilling in California and completely phase out fossil fuel extraction in one of the nation’s top petroleum-producing – and gasoline-consuming – states.
At the least, they want the state to impose buffer zones prohibiting new oil and gas wells near schools, hospitals and residential neighborhoods and also require monitoring for potentially hazardous emissions from abandoned or plugged wells, proposals already being considered by state lawmakers.This is so interesting to follow. This speaks volumes. This tells me the "elites" still feel that the price of gasoline is still not "high enough" in California.
After some quick math of my own (where's your disclaimer when I need it)
ReplyDeleteBased on rated of inflation from 1975 til now, $1.00/gal gas in '75 isn't that much different than $3.00/gal now. Based on percentage of monthly income.
It sounds way worse than it actually is.
But pol's like the chicken little scenario when it suits them
Agree completely -- except for California -- $5.00/gallon will hurt.
DeleteBut I've done the math often and posted it on the blog. $1.00/gal gas in '75 isn't that much different than $3.00/gal now. Based on percentage of monthly income.
In addition, mileage is a whole lot better now than it was in 1975.