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Shrinking fossil fuel demand could hit California's cap-and-trade auction, experts say
Utility Dive: Stay-at-home policies and the economic turmoil caused by the COVID-19 pandemic are reducing demand for fossil fuels in California, and some stakeholders are concerned about what this means for the state's upcoming cap-and-trade auction.
Gasoline production in the state dropped by nearly 48% between the week ending March 20 and the last week of April, according to a report from the California Energy Commission. Jet fuel and diesel production reduced by 68.3% and 33.2%, respectively, as well.
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