Nair, A. S. (2021, July 22). PBF Shares Tumble 10% on New California Air Pollution Regulation. https://www.reuters.com/business/energy/pbf-shares-tumble-new-n-california-air-pollution-regulation-2021-07-22/
Air pollution in California has reached an unprecedented level. Companies like PBF Energy Inc. and Chevron Corp’s faced economic struggles when being required to follow mandatory regulations to reduce the pollution matter emissions. The Bay Area Air Quality Management District predicts emissions in these plants will be cut by 70 percent. The costly factors that come with the modifications to the current technology backfires economically as understood by California air quality regulators.
The article expresses despite costly challenges, with an understanding of the environmental issue that is air pollution in California, measures need to be taken in large emission plants. The article combats the challenges that come with making environmental decisions with a deeper knowledge of risks and economical sacrifices. As concluded in the Bay Area Air Quality Management District, regulations are successful in reducing emissions. This article made me think about similar roots of air pollution in California that do not follow anti pollution requirements. I imagine that without widespread obedience, at the level of severity California has reached, changes will be shorter term. Also, when pondering the economical losses faced by companies discussed in the article, I wonder if California can fund the modification of these companies to provide a balance. This sustainability could reduce emissions even more.
Ryann- this article is really interesting to me and you raise some good points. Of course I have little sympathy for companies like Chevron having hardships cutting emissions. Already CA is a very difficult place to do business- lots of regulations and taxes and companies are migrating out. Do you think CA can continue to have tough restrictions and maintain its economy? Or will companies go somewhere else- ie. Nevada or Texas where it will be easier to continue with business as usual?
Thanks for commenting on my post! I think to an extent CA can continue to have restrictions as it is necessary for our future. I think that is an interesting point you bring up about companies moving somewhere else, that is something I hadn’t thought about.