Still smarting from California's recent enactment of emissions caps, the oil industry is confronting another assault in the Golden State — this one bankrolled in part by Silicon Valley tycoons pushing to fund conservation and alternative-energy initiatives with a tax on oil output.
Something tells me that no one is telling California consumers that this would lead to higher prices at the pump. Something also tells me that when (if) prices rise that the oil companies will take the blame.
As much as politicians and activists would love to repeal the laws of economics, its just not possible.
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