NO ON SB 467 AD:
Study on Impact of SB 467 on Jobs and Retail:
• SB 467 will immediately cost the State of California billions of dollars and 50,000 good paying blue-collar jobs.
• SB 467 with its banning of fracking, extraction, or stimulation of oil wells and setback requirements will restrict oil extraction in the State of California to the point that it will not be viable. Without oil extraction here the refineries in the State of California will close. These same facilities will become terminals for the delivery of gasoline and diesel fully refined in other countries. These terminals require very few employees and have almost no wear and tear therefore very little construction and maintenance required. We the Building Trades will lose in excess of 100,000 industrial jobs that solely exist to meet the energy needs of California. These job losses are in addition to the 50,000 oil field and industry support jobs detailed in this report.
• SB 467 will create a complete dependency on imported gas and diesel shipped thousands of miles from the Middle East and Russia to power California. This will create a foreign monopoly that drives extreme increases in the cost of fuel, food and transportation that every California family will pay for at the pump and in increased costs of consumer goods.
•SB 467 will increase the cost of gas and diesel at the pump by up to $10 a gallon – conservatively costing California’s working families thousands of dollars a year.
•SB 467 will disproportionately affect California’s working families, who often commute long distances from where they can afford to live to where they can find work.
•As our state continues to grapple with a crippling pandemic and the resulting economic devastation, SB 467 will kill hundreds of thousands of jobs across California doubling costs for employers, cost taxpayers billions, and cost working families thousands in additional costs at the pump per year that they can ill-afford. All this with no benefit to the environment as we’re just importing the fuel we need.