New Law Aims to Prevent Gas Price Spikes by Requiring Minimum Amount of Gas

October 14, 2024

NBC Los Angeles

Severin Borenstein, Energy Institute Faculty Director, shares his perspective on the effectiveness of a new CA law in decreasing gas price spikes through requiring a minimum amount of gas to be kept in storage.

“Despite the success the governor touts, UC Berkeley professor and Faculty Director for the Energy Institute at the Haas School of Business Severin Borenstein doubts this new law will be the relief consumers crave. ‘Well, unfortunately, I don’t think this is going to make a lot of difference to our gasoline prices…It will potentially help during some of the big price spikes we’ve seen over the last couple of years. Those price spikes don’t occur very often.’”

Photo: apnews.com