‘They're Screwing You': Gov. Newsom Wants to Penalize Oil Companies for Price Gouging

The governor said his people and lawmakers will work out details. Such as what the cap should be on profits , what the fine should be and who gets that money. The Western States Petroleum Association denies price gouging and said higher prices are the result of a number of factors.

“Supply and demand, the high cost of doing business in California and the public policies we’ve seen implementing over the past several years that really discourage energy that is affordable to California,” said Kevin Slagle of the Western States Petroleum Association. Severin Borenstein, faculty director of the Energy Institute at UC Berkeley’s Haas School of Business, says the proposal could keep big oil from increasing prices, but then again, “If we have a real shortage, a couple of refineries have disruptions, and they don’t raise prices – we are more likely to get gas lines.”

Lawmakers will reconvene in January to consider the penalty, which requires only a majority vote to pass. This article tagged under:

CA fuel tax is screwing us!

Newsom should also look at the tax gouging his administration continues to leverage on the citizens of California.

The only ones screwing us are the democrats that run California.

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Newsom unveils price-gouging penalty aimed at oil companiesGovernor Gavin Newsom on Monday unveiled a proposed penalty aimed at deterring oil companies from excessive gas price increases as the state legislature gathered for a special session.
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California Gov. Newsom pushing for oil company penalties in special sessionCalifornia Gov. Gavin Newsom is convening a special legislative session Monday urging lawmakers to pass a 'price gouging' penalty on oil company profits. This rich ass wants to be president! Gotta balance the budget somehow. how to destroy a state in 4 short years, strap yourself in for the next 4
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Newsom, accusing oil industry of price gouging, unveils plan to cap refinery profits“California’s price gouging penalty is simple – either Big Oil reins in the profits and prices, or they’ll pay a penalty,” Gov. Gavin Newsom said in a statement. 😂😂😂😂🤡🤡🤡🤡🤡🤡🤡 I don't believe in conspiracy theories. How much of their penalty goes into Newsom and his donors pockets?
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