Gov. Gavin Newsom’s legislation to penalize Big Oil’s alleged greed represents a sea change in California policy.
Now, California’s governor rails about “greedy” oil companies “fleecing” motorists — ”lying and gouging Californians to line their own pockets.”authorizes the California Energy Commission, which he appoints, to regulate oil refinery profits. It can establish a cap on profits and sock refineries that exceed it with what he calls a “price-gouging penalty.
Only one Democratic lawmaker voted against Newsom’s bill and she was promptly punished by Assembly Speaker Anthony Rendon . New Assemblymember Jasmeet Bains presumably represented her oil-rich Kern County district’s views by opposing the measure. TheThat wouldn’t have happened in the past on an anti-oil bill.
Second, there’s greater public angst over oil company actions that hit motorists directly. We pay far more than the national average for a gallon of gasoline — $2.61 more at one point last year when our cost at the pump exceeded $6. But those costs don’t account for all the extra price at the pump. Now, the Energy Commission will have the legalAnd maybe it can find out why just before every three-day weekend — especially during highly traveled summer months — the pump price suddenly escalates. But I think we already know that answer: Oil companies can get away with it because we need to fill up.The California Legislature sent Gov.
In the 1920s, much of the Los Angeles Basin was covered with a forest of wooden oil derricks. Many of us still remember an active oil well on the Beverly Hills High School campus. Derricks dotted the Summerland Beach area just south of Santa Barbara.
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