{"id":423321,"date":"2026-01-26T20:12:51","date_gmt":"2026-01-26T19:12:51","guid":{"rendered":"https:\/\/climatescience.press\/?p=423321"},"modified":"2026-01-26T20:12:54","modified_gmt":"2026-01-26T19:12:54","slug":"are-green-energy-subsidies-driving-californias-plan-to-expropriate-the-wealthy","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=423321","title":{"rendered":"Are Green Energy Subsidies Driving California\u2019s Plan to Expropriate the Wealthy?"},"content":{"rendered":"\n
\"A<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From Watts Up With That?<\/a><\/p>\n\n\n\n

Essay by<\/strong> Eric Worrall<\/a><\/p>\n\n\n\n

\"A<\/figure>\n\n\n\n

<\/p>\n\n\n\n

Soaring energy bills, a political crisis, and an insane plan to expropriate wealth creators who drive the Californian Economy.<\/p>\n\n\n\n

The tax;<\/p>\n\n\n\n

\n

Explaining California\u2019s billionaire tax: The proposals, the backlash and the exodus<\/strong><\/p>\n\n\n\n

By\u00a0Queenie Wong<\/a><\/strong>
Staff Writer\u00a0Follow<\/a>
Jan. 19, 2026,\u00a09:59 AM PT<\/p>\n\n\n\n

The battle over a new tax on California\u2019s billionaires is set to heat up in the coming months as citizens spar over whether the state should squeeze its ultra-rich to better serve its ordinary residents. <\/p>\n<\/blockquote>\n\n\n\n

\n

\u2026<\/p>\n\n\n\n

Under the Billionaire Tax Act, Californians worth more than $1 billion would pay a one-time 5% tax on their total wealth. The Service Employees International Union-United Healthcare Workers West, the union behind the act, said the measure would raise much-needed money for healthcare, education and food assistance programs.<\/p>\n\n\n\n

\u2026<\/p>\n\n\n\n

Which billionaires are already distancing themselves from California?<\/strong><\/p>\n\n\n\n

Google co-founders Larry Page and Sergey Brin<\/em><\/p>\n\n\n\n

Google is still headquartered in California, but December filings to the California Secretary of State show other companies tied to Page and Brin recently converted out of the state.<\/p>\n\n\n\n

\u2026<\/p>\n\n\n\n

Palantir co-founder Peter Thiel<\/em>

\u2026<\/p>\n\n\n\n

Oracle co-founder and Chief Technology Officer Larry Ellison<\/em>

\u2026<\/p>\n\n\n\n

DoorDash co-founder and Chief Technology Officer Andy Fang <\/em>

\u2026<\/p>\n\n\n\n

Palo Alto-based venture capitalist Chamath Palihapitiya estimates that the lost revenues from the billionaires who have already left the state would lead to more losses in tax revenues than gained by the new tax.

\u2026Read more: https:\/\/www.latimes.com\/business\/story\/2026-01-19\/explaining-californias-billionaire-tax-proposals-backlash-exodus<\/a><\/p>\n<\/blockquote>\n\n\n\n

Why does California need so much money in a hurry? The following might offer an explanation;<\/p>\n\n\n\n

\n

Governor Newsom signs historic package of bipartisan legislation saving billions on electric bills, stabilizing gas market and cutting pollution<\/strong><\/p>\n\n\n\n

Sep 19, 2025<\/p>\n\n\n\n

New laws will provide California families up to $60 billion in electricity bill refunds<\/p>\n\n\n\n

What you need to know:<\/strong> The Governor joined legislative leaders and advocates and signed major legislation that promises to bring down electricity costs, stabilize the petroleum market and slash air pollution. <\/p>\n\n\n\n

SAN FRANCISCO – Governor Gavin Newsom today signed sweeping bipartisan reforms to California\u2019s world-leading climate policy that promise to save Californians billions of dollars on energy costs. The Governor\u2019s action comes as the Trump administration continues its efforts to gut decades-old, bipartisan American clean air protections and derail critical climate progress.<\/p>\n\n\n\n

\u2026<\/p>\n\n\n\n

\u201cI just signed into law the biggest electricity bill refunds in a decade \u2014 up to $60 billion to help bring down costs for California families. Millions of Californians will soon start saving billions on their energy costs, and the savings don\u2019t stop there \u2013 we\u2019re stabilizing the state\u2019s gasoline supply to avert severe price spikes at the pump and we\u2019re making it easier to build the abundant clean energy we need to keep bills lower. On top of all that, we\u2019re doubling down on our best tool to combat Trump\u2019s assaults on clean air \u2013 Cap-and-Invest \u2013 by making polluters pay for projects that support our most impacted communities.\u201d<\/em>

\u2026Read more: https:\/\/www.gov.ca.gov\/2025\/09\/19\/governor-newsom-signs-historic-package-of-bipartisan-legislation-saving-billions-on-electric-bills-stabilizing-gas-market-and-cutting-pollution\/<\/a><\/p>\n<\/blockquote>\n\n\n\n

Why are electricity prices becoming such a political flashpoint?<\/p>\n\n\n\n

\n

Why California\u2019s Electricity Bills Keep Rising: The Hidden Cost of Rooftop Solar Subsidies<\/strong><\/p>\n\n\n\n

Aug. 12, 2025 6:35 AM PT<\/p>\n\n\n\n

Californians pay the second-highest electricity rates<\/a> in the nation. A growing body of evidence has concluded that the No. 1 driver<\/a> of higher bills is a decades-old policy that forces customers to pay for their neighbors\u2019 rooftop solar systems.<\/p>\n\n\n\n

\u2026<\/p>\n\n\n\n

According to the California Public Advocates Office, this cost shift was $8.5 billion in 2024 alone<\/u><\/a>, up from $3.4 billion just three years ago.<\/p>\n\n\n\n

Households without solar now pay as much as 27% more on their electricity bills<\/u><\/a> to cover the subsidies provided to about 1.6 million solar-equipped homes.<\/p>\n\n\n\n

\u2026Read more: https:\/\/www.latimes.com\/specialsupplements\/story\/2025-08-12\/hidden-cost-of-rooftop-solar-subsidies<\/a><\/p>\n<\/blockquote>\n\n\n\n

I\u2019m not suggesting rooftop solar subsidies are the sole cause of California\u2019s fiscal crisis, California\u2019s economic mismanagement is far broader than just the subsidies. But signing a bill to throw $60 billion at a self-inflicted cost of living crisis probably won\u2019t help fix the state\u2019s financial problems.<\/p>\n\n\n\n

California\u2019s 2025 state government deficit was $18 billion dollars<\/a>. This year\u2019s budget is projected to be $35 billion deficit. What do you think the 2026 California deficit will be?<\/p>\n\n\n\n

Will future historians look back on the coming collapse of California, and identify a desperate attempt to subsidise soaring green energy prices as the final straw which broke the state economy? Or will historians focus on the wealth expropriation bill as the trigger for the collapse? What do you think?<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Soaring energy bills, a political crisis, and an insane plan to expropriate wealth creators who drive the Californian Economy.<\/p>\n","protected":false},"author":121246920,"featured_media":423326,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"Explore the impact of California's new billionaire tax and the soaring energy costs driving debates on wealth and equity in the state.","jetpack_seo_html_title":"California's Billionaire Tax: A Controversial Economic Move","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":true,"token":"eyJpbWciOiJodHRwczpcL1wvY2xpbWF0ZS1zY2llbmNlLnByZXNzXC93cC1jb250ZW50XC91cGxvYWRzXC8yMDI2XC8wMVwvMFNjcmVlbnNob3QtMjAyNi0wMS0yNi0yMDA1MDYtMTAyNHg3MjgucG5nIiwidHh0IjoiQXJlIEdyZWVuIEVuZXJneSBTdWJzaWRpZXMgRHJpdmluZyBDYWxpZm9ybmlhXHUyMDE5cyBQbGFuIHRvIEV4cHJvcHJpYXRlIHRoZSBXZWFsdGh5PyIsInRlbXBsYXRlIjoiaGlnaHdheSIsImZvbnQiOiIiLCJibG9nX2lkIjoxNTU4MTI0NDl9.xFvPj2H1gCd-_PttNi9wSRkwTUDKMLXDk7tS7X24HKIMQ"},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691840950,691818068,691840949,691819716,691819461,691824270,691830485,691818443],"class_list":{"0":"post-423321","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-billionaire-tax","9":"tag-california","10":"tag-californian-economy","11":"tag-climate-policy","12":"tag-energy-bills","13":"tag-governor-gavin-newsom","14":"tag-green-energy-subsidies","15":"tag-greenhouse-gas-emissions","17":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/01\/0Screenshot-2026-01-26-200506.png?fit=1275%2C907&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1M7L","jetpack-related-posts":[{"id":220660,"url":"https:\/\/climatescience.press\/?p=220660","url_meta":{"origin":423321,"position":0},"title":"Green California Governor on Skyrocketing Prices: \u201cWe\u2019re Just Getting Started\u201d","author":"uwe.roland.gross","date":"25\/09\/2022","format":false,"excerpt":"Whatever their expectations, the next decade will be a painful test of their resolve and patience.","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/09\/image-1225.png?fit=800%2C558&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/09\/image-1225.png?fit=800%2C558&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/09\/image-1225.png?fit=800%2C558&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/09\/image-1225.png?fit=800%2C558&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":260910,"url":"https:\/\/climatescience.press\/?p=260910","url_meta":{"origin":423321,"position":1},"title":"Subsidised Wind & Solar Delivering Crushing Power Prices For Energy-Starved\u00a0Californians","author":"uwe.roland.gross","date":"06\/06\/2023","format":false,"excerpt":"One of the many problems with \u201cgreen\u201d energy is that it is ridiculously expensive. 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Liberals know this, despite\u2026","rel":"","context":"In \"Blackouts\"","block_context":{"text":"Blackouts","link":"https:\/\/climatescience.press\/?tag=blackouts"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/069a64a32-dcf8-4cec-b2ca-9990e4266ed3-windmills_2018_10.webp?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/069a64a32-dcf8-4cec-b2ca-9990e4266ed3-windmills_2018_10.webp?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/069a64a32-dcf8-4cec-b2ca-9990e4266ed3-windmills_2018_10.webp?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/069a64a32-dcf8-4cec-b2ca-9990e4266ed3-windmills_2018_10.webp?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/069a64a32-dcf8-4cec-b2ca-9990e4266ed3-windmills_2018_10.webp?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":269315,"url":"https:\/\/climatescience.press\/?p=269315","url_meta":{"origin":423321,"position":2},"title":"Retired Officer Exposes How Environmental Policies Hurt The Environment | John Baker","author":"uwe.roland.gross","date":"25\/07\/2023","format":false,"excerpt":"\"In the name of green energy, we're sacrificing wildlife species. 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