California has the highest gas prices in the country, and they may rise even further. USC Professor Michael Mische drew attention with a projection that upcoming refinery closures could push prices past $8 per gallon. In this conversation, we explore what’s behind California’s fuel costs from shrinking in-state production and growing reliance on imports to the state’s unique regulatory structure. Professor Mische challenges the narrative around price gouging, outlines trade-offs in the state’s energy transition, and shares what better policy could look like.

Newsletter: californiafuturesociety.com

Apple: https://podcasts.apple.com/us/podcast/california-future-society/id1807612672

Spotify: https://open.spotify.com/show/0zzVSVdCUCTGuZUyl8qZXA

Youtube: https://www.youtube.com/channel/UCVNumolJuKvqJScBEnhe8hQ

Chapters

00:00 – Intro

04:37 – California’s Petroleum Industry

09:47 – Why Is California’s Gas So Expensive?

13:49 – The Electric Transition in California

16:56 – Refinery Closures & Projected Gas Prices

30:15 – Political Reactions & Public Criticism

39:47 – Policy Ideas for a Sustainable Transition

47:26 – A Hopeful Future for California

California, gas prices, refinery closures, gasoline market, energy policy, environmental policy, energy transition, oil and gas industry, fuel supply, price projections, future gas prices, economic impact, supply and demand, market elasticity, replacement cost, production capacity, foreign oil dependency, energy imports, in-state oil production, regulatory challenges, California Air Resources Board, CARB, cap and trade, low carbon fuel standard, excise taxes, underground storage tank fee, mileage tax, emissions policy, clean air standards, climate regulation, vehicle electrification, internal combustion engine ban, refinery consolidation, maritime fuel transport, pipeline access, California-compliant fuel, Asian fuel imports, Saudi oil, Washington state refineries, energy independence, USC Professor Michael Mische, California Energy Commission, CEC, Governor Newsom gas prices, price gouging accusations, academic freedom, public data analysis, state energy policy, federal energy policy, Vision 2030 Saudi Arabia, energy forecasting, political narrative, public backlash