Tom Steyer’s Affordable Energy Promises to California Are Unaffordable
Tom Steyer, the billionaire climate activist running for California governor, promises to cut electric bills by 25 percent by breaking up big utility companies like PG&E and Southern California Edison. In his ads, he boasts about fighting oil and gas companies, like when he helped kill Proposition 23 back in 2010. But here’s the problem: California’s economy runs 84 percent on fossil fuels. It powers our cars (mostly petroleum), factories, homes for heating (mostly natural gas), and even backs up our electricity (gas plants fill the gaps). Steyer’s war on these companies ignores simple supply-and-demand math, making his bill-cutting talk ring hollow. My Southern California Edison (SCE) bill during winter rates are 25 cents per kilowatt-hour off-peak, spiking to 59 cents during peak hours Read More ›
