New California gas price law another defeat for oil industry

FILE - A pump jack sits idle in front of palm trees on June 9, 2021, in Signal Hill, Calif. California Gov. Gavin Newsom on Tuesday, March 28, 2023, is scheduled to sign a new law that would let regulators decide whether to penalize oil companies for making too much money from price spikes at the pump. – It was just a few weeks ago that California Gov.

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.

Hear us out: 1. nationalize the oil industry. 2. Force all revenue to be invested in wind solar and nuclear 3. CEO’s cry 4. We don’t die from climate change

It's not about making too much money. It's about price gouging. Protecting the consumer. But yes let's please get outraged CEOs are not getting enough money

WOOOO!!! 👏🏽👏🏽👏🏽👏🏽 have the profits reinvested into the community!!

Simple, the oil companies are not going to ship THEIR PRODUCT TO CALIFORNIA. Who’s going to force them?

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‘We Finally Beat Big Oil': Gov. Newsom Signs Law Penalizing Oil Companies for Price GougingNewsom signed a new law that gives state regulators the power to penalize oil companies for making too much money, the first of its kind in the country. It’s the type of legislation the oil industry might have crushed in the past. But on Monday, the bill cleared the state Assembly with only one Democrat voting against it. Good! Only California? I wonder why? Communist Newsom
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