In late October, Schwarzenegger Institute Environmental Policy Director and former Senator Fran Pavley attended the World Energy Press Conference. Bryan Sherbacow, Chief Commercial Officer of World Energy and Gene Gebolys, the CEO of World Energy, led the press conference by highlighting the fact that their biofuel company is in California because of the state’s great market signals. They specifically mentioned the passage of AB 32, the Global Warming Solutions Act, that was signed into law by Governor Schwarzenegger in 2006. AB 32 put a cap and a mandated reduction of climate pollutants from both mobile and stationery sources while also allowing for market based solutions and a credit trading program. Gov Schwarzenegger also added the Low Carbon Fuel Standard to AB 32, which requires the reduction of the carbon intensity of fuels by 10%. Inspired by these progressive market based policies, World Energy repurposed an old oil refinery in Paramount and retrained the workforce to produced cleaner fuels.
World Energy’s work eventually caught the eye of United Airlines, who gave them a contract in 2016 to produce lower carbon aviation fuels. With a new infusion of investment capitol, they will be expanding their facility and production of cleaner fuels.
California’s Air Resources Board and the Energy Commission are working with World Energy to meet their goals of combatting climate change, cleaning up the air, and producing in-state jobs. Also speaking at the press conference was Assembly Speaker Anthony Rendon, Congresswoman Lucille Roybal-Allard-Allard, and the Mayor of Paramount, Diane Martinez.