Instead, Newsom and lawmakers agreed to let the California Energy Commission decide whether to penalize oil companies for price gouging. But the crux of the bill isn’t a potential penalty — it’s the reams of new information oil companies would be required to disclose to state regulators about their pricing.
“If we force folks to turn over this information, I actually don’t believe we’ll ever need a penalty because the fact that they have to tell us what’s going on will stop them from gouging our consumers,” said Assemblymember Rebecca Bauer-Kahan, a Democrat from Orinda.Western States Petroleum Assn. argues that prices are higher in California as a result of the state’s policies to limit gasoline production.
The legislation will require oil companies to provide the state with more information around planned maintenance, which could make it easier to avoid having several refineries go offline at the same time, drastically reducing supply. If unplanned maintenance occurs, regulators will have more tools to investigate.
Just force oil firms to abandon state. Libs will beg their return.
It will be amusing to see CA gas shortages. They still haven’t learned their lessons after the whole electric debacle.
Every oil company should leave California. No oil company should supply California.
Republicans are hunted. I guess oil refiners are, too.
And California wonders why some many businesses and people are leaving the once “Golden State”.