And the hits just keep on coming.
From the San Francisco Chronicle: For years, California has suffered sudden jumps in the price of
gasoline. The latest price spike, which peaked this week, briefly saw
some stations charging $5 for regular.
Now critics warn that one of the state's policies to fight global warming could make the situation worse.
Business
groups are taking aim at California's "low carbon fuel standard," which
is designed to cut the greenhouse gas emissions that come from making
and burning fuel. Created in 2007, the standard forces fuel producers to
lower the "carbon intensity" of their products 10 percent by 2020.
Oil
companies can meet the standard by blending advanced biofuels into
their gasoline and diesel. But those biofuels - such as cellulosic
ethanol, made from grass, crop stubble or woody plants - are in short
supply. If the oil companies can't get enough, prices at the pump could
soar, critics say.
"The fuel price increases are going to make last week look like nothing," said Robert Sturtz,
chairman of Fueling California, a coalition of companies that buy large
amounts of fuel. Sturtz, for example, is also the managing director of
fuel supplies for United Airlines.
"You'll be writing articles not about 50-cent increases in a week,
but $1.50 increases in a week," he said. "That's what we're trying
to avoid."
State officials and supporters of the low carbon standard consider those fears overblown.
Sunrise — 6:31, 6:37, 6:46, 6:51.
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