By refusing to tap much of the oil wealth off its shoreline, California is forgoing a resource that could go far to revive its economy and bring state and local governments back to fiscal health.

On dry land, too, California is missing an opportunity: Its vast onshore oil reserves are underused, thanks to a green-energy agenda that raises the cost of oil production and refining.

Policymakers have to realize that their quixotic quest to outgrow fossil fuels isn't helping the state.