Do you believe in magic? California’s environmental overlords do.  They approved a Low Carbon Fuel Standard that requires the state’s fuel supply to achieve a 10% reduction in “carbon intensity” by 2020 as part of their effort to break Californians’ “petroleum habit.”

The fact that it will cause the price of gasoline to skyrocket, kill the corn ethanol industry, and requires oil companies to use technologies that don’t exist yet commercially are counterbalanced by the bureaucrats’ touching faith in business’s ability to make their dreams come true:

The standard will phase in slowly in the early years. Refiners and entrepreneurs will have plenty of time – and economic incentive – to make inexpensive biofuels, hydrogen-based fuels, even ethanol from such “cellulosic” materials as switchgrass.