In a recent video by Forbes, Steve Forbes warns of an impending economic disaster in California, driven by the state’s ambitious plans to ban diesel-powered trains. Forbes’ critique is a reminder of the potential pitfalls of sweeping regulatory changes that do not account for current technological and economic realities. Let’s explore what he had to say.
Mismanagement and Mass Exodus
California, once the epitome of the American dream with its unparalleled weather and natural beauty, is now facing a severe decline in its population. According to Forbes, the primary cause is the state’s relentless tax and regulatory policies, which have driven businesses and residents to seek refuge in more business-friendly states. The Golden State, now tainted by its governance, is on a trajectory that could worsen with the proposed diesel locomotive ban.
The Diesel Locomotive Ban
Forbes highlights a controversial plan by California’s regulators to phase out diesel-powered locomotives. By 2029, older diesel engines would be banned, and by 2035, all long-distance freight trains would need to be zero-emission. The issue? The required battery technology is far from being viable. This move, according to Forbes, reflects a common trend among California’s leaders: prioritizing ideological goals over practical considerations. I always found this line of thinking to be silly as well, as it only makes life harder for the people living there.
Financial Implications
The economic implications of this ban are profound. Railroads will be forced to deposit billions of dollars into a fund to eventually purchase zero-emission locomotives, diverting funds that could otherwise be used productively. Forbes argues that this is a colossal waste, especially since the necessary technology may not even exist by the imposed deadlines. This financial burden could stymie investment and innovation in other critical areas of the economy.
Nationwide Impact
Given California’s economic significance, this ban could ripple across the entire country. Forbes warns that about two-thirds of the nation’s locomotives might be banned from entering California, forcing other states to adopt similar regulations or risk economic isolation. This coercive strategy, according to Forbes, is dangerous and could disrupt the national transportation network.
The Trucking Transition Dilemma
Compounding the problem is California’s push to transition to electric trucks. Forbes points out that this could lead to more accidents and inefficiencies, further straining the transportation sector. The state’s insistence on transitioning to unproven technologies is, in Forbes’ view, a reckless gamble that prioritizes fantasy over reality. I agree with him here, because while I do think climate change poses a huge problem, new technologies require more testing before being implemented at a large scale.
High-Speed Rail Fiasco
Forbes doesn’t hold back in criticizing California’s high-speed rail project between San Francisco and Los Angeles. Originally budgeted at $35 billion, costs have skyrocketed to $135 billion, with only a quarter of the route under construction. Forbes calls this project a “white elephant,” reflecting the state’s broader tendency to embark on grandiose projects without realistic planning or funding.
A Broader Critique of Fossil Fuel Bans
Forbes’ critique extends beyond California, suggesting that global efforts to ban fossil fuels have been misguided and harmful. He argues that such policies have not only failed to deliver promised environmental benefits but have also inflicted significant economic damage.
The Need for Practical Solutions
In light of these criticisms, it’s clear that California’s regulatory approach needs a serious reevaluation. Forbes emphasizes the necessity of aligning environmental goals with economic realities, advocating for a more measured transition to renewable energy and sustainable practices. The state’s current trajectory, driven by ideological zeal rather than practical feasibility, risks further economic harm.
“No Management At All”
People in the comments shared their thoughts: “If it weren’t for mismanagement in CA government there’d be no management at all.”
Another commenter added: “The solution is simple. The trucking and train industries should simply refuse to go along with that insane plan and let California deal with the loss of goods and food. California wouldn’t last a week and their silly politicians would have to capitulate to the screams of the public.”
One person concluded: “Trucking Companies and Railroads do not need California, but California needs them.”
A Dire Warning
Forbes’ analysis presents a dire warning about California’s latest regulatory ambitions. The proposed diesel locomotive ban, he argues, is emblematic of the state’s broader mismanagement, characterized by a disregard for economic practicality and technological readiness. As California continues to push forward with these plans, the rest of the country would do well to heed Forbes’ cautionary words and advocate for more balanced and realistic environmental policies.
Reducing Emissions Without Financial Burdens
What do you think? What are the potential long-term economic impacts of California’s proposed ban on diesel locomotives for both the state and the country? How can California balance its environmental goals with the economic realities and technological limitations of the present? What alternative strategies could California pursue to reduce emissions without imposing severe financial burdens on businesses?
To dive deeper into this topic, check out the full video on Forbes’ YouTube channel here.
