Prop 87 will not raise gasoline prices
There’s a popular misconception that all cost increases are passed on to consumers. This is notion is incorrect. Economics is all about supply and demand. The price of any good is where supply and demand intersect. Notice, there is no cost of prodction on a supply and demand curve. The Y-axis is sale price and X-axis is number of units.

As a former econ prof, I’m shocked to read the text above! The supply curve is given by marginal cost of production. Increasing costs will shift the supply curve upwards and to the left, hence raising gas prices. Every Nobel price winner in econ is against this proposition. (I know, many conspiracy theorists probably think that Nobel prize winners, oil companies, and aliens from Mars are all in cahoots).

This proposition is really bad. It creates new taxes, it creates a bureaucracy that is not required to accomplish anything, it increases gas prices for consumers, and discourages exploration and maintenance of existing oil infrastructure.