Quote du jour: Long Beach, built on oil, transitions

San Diego County cities are grappling with California's net zero emissions pledge, but none face a challenge like Long Beach: a $300 million budget hit over 10 years as local oil wells are phased out.

Driving the news: Long Beach Mayor Rex Richardson joined me on stage Tuesday for an Axios event on California's decarbonization efforts.

What he's saying: Richardson outlined how the city lobbied the state to help fill that budget hole, but said the city views the transition as an opportunity, emphasizing Port of Long Beach projects like Pier Wind, an offshore wind turbine manufacturing facility, and ARCHES, a renewable hydrogen program.

• "It's not only about economic progress, it's also about environmental progress. They're not mutually exclusive. They're the pathway forward."

Go deeper: Watch the full interview and the rest of the event