Governor Gavin Newsom’s policies curbing domestic oil production may put foreign oil countries (OPEC+) in the driver’s seat on gas prices.
A surprise and substantial oil production cut by OPEC+ has caused challenges in meeting global energy demands this year.
California regulations and legislation that curtail domestic oil production relinquish influence over energy markets to foreign actors.
Governor Newsom’s policies have resulted in a roughly 20% reduction in California’s oil production since he was first elected governor. This has helped put OPEC+ in the driver’s seat on gas prices.
Gov. Newsom’s policies make the state more dependent on imports for basic energy needs, which makes it more vulnerable to the whims of foreign regimes that don’t have the state’s economic interests at heart.
