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last week, and while it is tempting to blame the state’s war against fossil fuels as the cause for the departure, energy firms are far from the only companies fleeing the state as fast as they can.
On the energy front, California has done plenty to target fossil fuel companies like Chevron. The state charges cap-and-trade taxes on energy producers, imposes costly environmental mandates on refiners, and, on top of all that, charges oil companies an “excessive profits” tax to add insult to injury.
But as much as California’s energy policies have raised costs, hurt consumers, and discouraged investment, so have its policies in every other sector. The nation’s strictest environmental laws make it prohibitively expensive to build housing, factories, and infrastructure. As a result, California now has the nation’s highest gas prices, the nation’s highest energy costs, and the nation’s most unaffordable housing.
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