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Fossil Fuel Phase-Out

PROHIBITS FRACKING AND PHASES OUT USE OF OIL, NATURAL GAS, AND COAL

The ballot initiative would phase-out the extraction of oil and gas by 2045 and prohibit fossil fuels by 2050. The ballot initiative would also prohibit fracking beginning on May 1, 2023

1922. (21-0028)

PROHIBITS FRACKING AND PHASES OUT USE OF OIL, NATURAL GAS, AND COAL

PAC

Not publicized

Signatures reached

(est. April 2022)

380000

Proponents

Kamyar Feiz

Topic

Energy and Environment

Type

INITIATIVE STATUTE

Circulation Deadline

06/06/22

Official Text

Petition Summary

As of May 1, 2023, prohibits hydraulic fracturing (“fracking”) and other processes used to increase oil and gas well production. Prohibits oil and gas extraction within “health protection zones,” including near hospitals, residential areas, or schools. Prohibits authorization of new oil and gas well operators; and, starting in 2025, prohibits new wells. Limits amounts that may be extracted from existing wells, with allowed amounts phasing out to zero by 2045. Starting in 2025, prohibits government agencies from using coal. Prohibits any use of fossil fuels starting in 2050.

Fiscal Impact

Likely decrease in state tax and fee revenues over time that could reach several hundred million dollars annually, primarily from reduced state income tax and sales tax paid by oil and gas extraction businesses, their employees, and others with jobs induced by the oil and gas industry. Decreased local tax and fee revenues over time that could reach several hundred million dollars annually, including lower property assessment revenues from parcels with oil and gas deposits, as well as lower royalties from oil and gas production. Increased one-time state costs and cost pressures potentially totaling more than ten billion dollars over the next few decades to plug abandoned wells and compensate oil and gas companies for the reduction in value. Unknown fiscal effects from the prohibition on the consumption of fossil fuels that could range from relatively minor to substantial reductions in state and local revenues depending on several factors, including economic, policy, and technological changes

Regulation:

California Constitution - Chapter 1 of Division 3 of, the Public Resources Code, and to add Section 10783 to the Water Code, relating to oil and gas. .SB-4 Oil and gas: well stimulation

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Latest News:
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California Court of Appeal strikes down Monterey County’s ban on new oil wells

Monterey Herald

Oct. 15, 2021

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