But that doesn’t mean we take off our lab coats and go home. We should not underestimate the ingenuity of our deep reservoir of scientists, engineers and chemists directing their talents to constantly improving the technologies we need to lead us toward a 21st century fuel supply.
California boasts more than 40,000 businesses serving advanced energy markets, and these businesses employ more than 430,000 people. The LCFS is driving strong investment in alternative fuels, and is expected to result in $1.4 billion to $4.8 billion in energy and environmental security benefits by 2020 while also creating thousands of jobs. The LCFS, working together with the state’s emissions cap on transportation fuels, is expected to result in $10.4 billion in avoided costs related to energy insecurity, health care and climate change by 2020.
California was the first in the nation to implement a Low Carbon Fuel Standard, and now we are poised to continue this leadership role in the marketplace of clean fuels. This is what our state does best. Identify an issue. Seek a solution. Chart a course of action others soon follow. With sustained government and industry commitment we can meet – or even surpass – the LCFS’ original goal while driving new investment and job creation.
John Boesel is chief executive of Calstart, which works with business, fleets and government to develop and implement clean, efficient transportation solutions. Ruben Guerra, founder of Municipal Energy Solutions, is chairman and chief executive of the Latin Business Association, the nation’s largest Latino business trade organization.