The Energy Commission's 1987 Biennial Report addresses several overriding concerns. Although today's relatively low oil and gas prices are providing a temporary reprieve for energy consumers, the state must take actions to encourage competition in energy markets while maintaining environmental protection, resource diversity, and security from fuel supply disruptions and price hikes. Because the future supply and price of oil are highly uncertain, our transportation system must reduce its virtual total dependence on oil. In addition, increasing competition in the natural gas and electricity sectors requires us to reevaluate energy regulations to ensure that energy prices reflect actual costs.
California Energy Commission, "California's Energy Outlook: 1987 Biennial Report" (1987). California Agencies. Paper 26.