New California gas price law another defeat for oil industry

Gov. Gavin Newsom signs a bill aimed at addressing gas price gouging while surrounded by legislators and state officials in the Capitol rotunda, Tuesday, March 28, 2023, in Sacramento, Calif. SACRAMENTO, Calif. — — It was just a few weeks ago that California Gov. Gavin Newsom called the oil industry the second most powerful force on earth, trailing only Mother Nature in its ability to bend the elements — both physical and political — to its will.

The oil industry doesn’t mind a David vs. Goliath comparison “as long as you think we’re David and not Goliath,” Kevin Slagle, spokesperson for the Western States Petroleum Association, said about the industry’s influence at the state Capitol. “Just look at the results the last couple of years on legislation.”

“We're never going to get it right, in terms of this transition , unless we minimize and mitigate the power and influence of big oil in this country,” said Newsom, now in his second term in office and widely seen as a potential presidential candidate beyond 2024. “They're the biggest impediment to a just transition.”

Those donations did not always translate to favorable votes. New Assemblymember Esmerelda Soria, a Democrat who represents parts of the Central Valley, was the top beneficiary of money from a Western States Petroleum Association-affiliated committee. Soria voted Monday to support the legislation despite industry opposition.

*petrodollar enters the chat*

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Oil Companies Could Be Penalized For Price Gouging Under Bill Awaiting Newsom's SignatureCalifornia lawmakers approve bill that could punish oil companies when they make too much money. The bill now heads to Newsom's desk.
Source: LAist - 🏆 606. / 51 Read more »

New California gas price law another defeat for oil industryCalifornia Gov. Gavin Newsom has signed a new law that could penalize oil companies for making too much money. 🤣🤣🤣 And in the long term a bigger loss for consumers. GavinNewsom policies are bad for California jobs. He will run the oil industry out of the state and thousands of union jobs. He hates the middle class Newsom is destroying America by disrupting normal market fluctuations. California is already paying more than any other state for energy and manufacturing has left this state as a result.
Source: KPIXtv - 🏆 443. / 53 Read more »