Jet skis can and have been rented for quite some time now up and down the Ca coast. From all the popular rental areas I have seen, and the use of those jet skis, touring LJ kelp, caves/coves, CP has never been the highlight of the rental. Going fast, jumping waves, and acting stupid is usually done within close proximity of the rental, especially since we're talking per hour rentals.
Jet ski tours - IMO, will be a whole nother story. You've got a guide, working for a company who has put their company on the line, paying workmans comp, and I'm sure they were required to put up a healthy insurance policy just incase. The tourist paying $300 for a guide-led tour is not your typical yahoo looking to go crazy on the water. I'm sure there is a point in the tour where the guide will let the rentals cut loose, but I would bet it's not in an area where any harm could come to those around, but also to their customers (see above - required insurance).
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