Shockproofing Society: How California’s Global Warming Solutions Act (AB 32) Reduces the Economic Pain of Energy Price Shocks

The price of gasoline is a telling economic weathervane. When gas is cheap, it is not given much attention. When gas prices hit record highs, however, as in 2008, the downside of America’s dependence on imported energy is made painfully obvious. This report analyzes how Assembly Bill (AB) 32, California’s Global Warming Solutions Act, will help protect California’s economy from energy price spikes by reducing California’s dependence on imported oil and natural gas.