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The LCFS is the leading example of a Clean Fuel Standard , an approach to transportation fuel policy that holds oil refiners accountable to reduce the carbon intensity (CI) of transportation fuels. California may seem like an unlikely driver of deforestation from soybean and palm oil biofuels.
In a January 2022 report on its climate plans, ExxonMobil pledged to direct $15 billion toward emission reduction efforts over the next six years, but that $15 billion breaks down to $2.5 billion per year—less than 2 percent of ExxonMobil’s annual revenue, and far less than its profits from just the last three months.
The decision to ditch coal was the biggest single action of its time to cut carbonemissions in North America. That means carbonemissions from electricity in Ontario will be rising back up again after years of decline. Ontario Electricity Sector Greenhouse Gas Emissions Historical and Forecast.
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Renewables contributed to electricity prices rising six times more in California than in the rest of the US since 2011, the state’s “take-off” year for rapid growth in wind and solar, a price rise that occurred despite the state’s reliance during the same years on persistently-low-priced natural gas.
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