California Gov. Gavin Newsom launched an offensive in his war with Big Oil. The battle didn't go as planned.
, Newsom and lawmakers gave state regulators the ability — but not a mandate — to do so in the future. Consumer advocates have celebrated the new law as a groundbreaking tool that could keep gas prices from escalating., it still gives the governor a political victory over the oil industry. The law allows Newsom to position himself as a cutting-edge leader who scored a win against a politically powerful industry that many progressives view as a bogeyman.
Yet Newsom also acknowledged that it would take time for Californians to feel the effects of the law: “Nothing is going to happen in the short term,” he said. “Gas prices are not going to drop immediately.”The California Legislature sent Gov. Gavin Newsom a bill to increase transparency in the oil industry and require refiners to report more information to the state.
Yet even as he jumps in front with political statements that lack policy details, Newsom has shown a knack for generating headlines and getting ahead of other politicians. Anthony York, a spokesman for the governor, also argued that politics are more than just symbolic. Newsom’s efforts to call out the oil industry are a key component of his policy agenda.
“This landmark law will allow us to hold oil companies accountable if they pad their profits at the expense of hard-working families,” she said at the bill-signing ceremony.
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