California's Push to Hold Oil Companies Accountable Faces Legislative and Consumer Cost Hurdles
As a key climate liability bill stalls and another remains under review, a new report underscores the financial burden on consumers from existing carbon pricing measures.
Overview
- California's SB 222, a bill allowing wildfire damage lawsuits against oil companies, has been sidelined after failing to gain sufficient support in the Senate Judiciary Committee.
- SB 684, which proposes a Polluters Pay Superfund to calculate and charge oil firms for atmospheric damage, is still pending committee review.
- No court has yet held oil companies financially liable for greenhouse gas emissions, raising questions about the viability of legal accountability efforts.
- A Legislative Analyst’s Office report highlights that California’s cap-and-trade program has already increased gasoline prices by 23–74 cents per gallon, costing households up to $700 annually.
- Advocates warn that legal or regulatory costs imposed on oil companies could be passed on to consumers, disproportionately affecting lower-income households.