California Air Resources Board to Vote November 8 on Regulations Expected to Raise Gas Prices by 65 Cents, Costing $162 Billion

Nov 1, 2024, 05:23 PM

The California Air Resources Board (CARB) is poised to vote on new clean air regulations on November 8, which are expected to significantly increase gas prices for consumers. Republican legislators have criticized the apparent wealth of CARB members, suggesting that these regulations will exacerbate the cost of living crisis for working-class Californians. Governor Gavin Newsom's administration has indicated that it will not intervene to halt the vote, despite concerns over the immediate impact on drivers. Reports suggest that California's carbon credit update could lead to an increase in fuel costs by $162 billion through 2046. Additionally, the changes to the Low Carbon Fuel Standard could raise gas prices by as much as 65 cents per gallon, further straining consumers already facing high fuel costs. The ongoing debate highlights tensions between environmental regulations and economic impacts on the state's residents.