Proposed changes and improvements to the H.R. 455

Date: June 5, 2021
To: The Legislators of the Congress
From: Your name
Subject: Proposed changes and improvements to the H.R. 455 (or the California Clean Coast Act of 2021).
Executive Summary: Study shows that a significant percentage of the citizens of California are in support of the legislative proposal for the California Clean Coast Act of 2021. However, despite the noble aims of the project, several citizens and businesses are also hoping to consider their property rights and businesses in this proposal. Accordingly, this proposal would like to suggest that the bill's focus should be more on the regulation rather than the prohibition of these businesses.
Memo: The California Clean Coast Act of 2021 (or H.R. 455) aims to permanently prohibit both gas and oil leasing off the coast of California. Generally, this bill wants to prohibit all other related activities "in areas of the outer Continental Shelf located off the coast of the State of California" CITATION Gov21 \l 1033 (GovTrack.US, 2021). However, Expressly does not prohibit or impose stringent regulations on pre-existing contracts with the government, but only a prohibition against new companies and contracts to be made after its enactment.
Risks Related to the Legislation
In line with this, several citizens of the State of California have erred their grievances against that said act. On the one hand, we believe that this legislation, upon its effectivity, could lead to a monopolistic market and an increase in oil prices within the State. This would be to the prejudice of Californian citizens who depend on these low prices for their businesses and their living. On the other hand, this could also lead to a discriminatory policy against companies hoping to enter the oil production industry. Aside from the possibility of a discriminatory policy, this could also lead to leniency on pre-existing contractors knowing that there are unshakeable barriers to entry in this industry.
Monopolistic Competition
One of the reasons for this proposal is the possibility of having a monopolistic competition on the part of pre-existing oil companies. Although legal monopolies are accepted under the law, history would show that monopolies usually lead to inferior products since corporations are not driven by the pressure to outcompete their competitors with better ...