Publications: The Petroleum Economics Monthly

Implications of California's Extraordinary Program for Reducing Greenhouse Gas Emissions (April 2014)


California and the European Union have developed very detailed, complicated programs for limiting greenhouse gas emissions. This issue of The Petroleum Economics Monthly explores the California program in depth. We conclude that it will likely have profound impacts on fuel sales in the state. We also suggest it could easily lead California’s refineries to become export platforms that flood Asia and South America with products, which could “exterminate” some Asian facilities just as US Gulf and Atlantic Coast refineries did to refineries in Western Europe.


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