Energy regulation, climate change policy, is impacting local firms, LA County business leaders say

Why did Parsons leave Pasadena for Virginia?  It was too expensive to live and work in California, especially the Los Angeles area.  Why has the middle class fled L.A.—itis the failed government schools, the crime that no longer is reported or prevented?  Could it be the high taxes or high cost of housing?  Maybe a combination.  Of course government actions have consequences.

“Panel members at the forum, held by the Los Angeles County Business Federation, framed the discussion as balancing the need for affordable and reliable energy and the push to meet California’s ambitions climate goals.

Those state targets include requiring all California’s electricity come from renewable energy sources by 2045 and reducing total carbon emissions by 40 percent below 1990 levels.

“Dealing with the problem of climate change is the dominant thing driving energy policy in this state,” said Michael Peevey, former president of the California Public Utilities Commission.

Thanks to Sacramento and local policies the cost of energy is going to double in a few short years.  Businesses and families that want to survive are leaving.  The very rich do not care.  Who gets hurt, first and the most?  Minorities and immigrants—the very people  the Democrats claim to help are their first victims.  Don’t want to be a victim of Democrats, either fight back or call yourself a Texan.

welcome to Texas 2

Energy regulation, climate change policy, is impacting local firms, LA County business leaders say

Energy experts, business leaders gather in L.A. County Business Federation forum, voicing concern about the impact of climate change and the policy it fuels.

By Ethan Varian, Daily News,  3/21/19

 

 

Energy experts and business leaders gathered at OUE Skyspace above downtown Los Angeles Thursday to discuss the impact of California energy policy on the state’s economy and businesses.

Panel members at the forum, held by the Los Angeles County Business Federation, framed the discussion as balancing the need for affordable and reliable energy and the push to meet California’s ambitions climate goals.

Those state targets include requiring all California’s electricity come from renewable energy sources by 2045 and reducing total carbon emissions by 40 percent below 1990 levels.

“Dealing with the problem of climate change is the dominant thing driving energy policy in this state,” said Michael Peevey, former president of the California Public Utilities Commission.

While business leaders at the event support efforts to address climate change, they say state policymakers often fail to consider and study the impact energy regulations have on business.

“Looking ahead and being able to understand what the economic analysis and impacts are is everything,” said California Business Roundtable President Ron Lapsley. “This is a constant discussion we’re having with Sacramento.”

One issue discussed was how the state invests proceeds from its cap-and-trade program, which requires large industrial firms to purchase allowances to emit greenhouse gasses. According to the law, 25 percent of the state’s revenue must be spent on improving public health in disadvantaged communities.

“It’s an ongoing frustration and effort in the business community … to try and use the monies coming in to help disadvantaged communities — as they should be helped — but also to give benefit back to the business community that deserves to be the beneficiary.”

Another question brought up was uncertainty surrounding how the state will handle Pacific Gas and Electric and Co.’s ongoing bankruptcy. Central to the issue is whether ratepayers will be forced to foot the bill to cover any liability the Northern California’s utility incurs for recent wildfires. PG&E says it will face significant fiscal impacts if it has to bear the brunt of the cost.

“I’ve had more calls since PG&E went into bankruptcy asking, ‘We’re thinking about moving [our business] to California but will they still be in business?’” Lapsley said.

Peevey, the former utilities commissioner, is confident the state will find solutions to these issues.

“I have tremendous faith in the people of California and it’s leadership by-and-large,” he said.” There’s a lot of challenges our state faces, but I think we have the capacity, the desire and the willpower.”

About Stephen Frank

Stephen Frank is the publisher and editor of California Political News and Views. He speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows. He is a fulltime political consultant.