California Lawmakers to Consider Penalties on Oil Companies to Fight High Gas Prices

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California legislators opened a special session Monday to explore the possibility of levying penalties on the oil industry for what Democratic Gov. Gavin Newsom has called price-gouging of consumers

California legislators opened a special session Monday to explore the possibility of levyingfor what Democratic Gov. Gavin Newsom has called price-gouging of consumers.

Speaking to reporters in Sacramento Monday, Mr. Newsom said the proposal’s main goal was to deter oil companies from setting artificially high prices. “I hope we never have to go there because I hope the oil companies change their ways,” he said. “If they don’t, I expect every cent to go back into the pockets of people being screwed by oil companies.”

The Democratic leaders of the state Assembly and Senate have said they didn’t expect to debate the matter until January, when the legislature reconvenes for regular session. “Having not heard much details from the governor up to this point, I guess it’s not surprising we get a legislation that has so many holes in it,” he said.

Mr. Newsom, who has pushed California toward some of the most aggressive climate policies in the nation, has been critical of oil companies for months. Speaking at the Clinton Global Initiative in September, he criticized members of his own state party as “wholly owned subsidiaries of the fossil fuel industry.”

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FAKE NEWS

So they're saying that oil companies waited for Democrats to have complete control over the federal government to 'price gouge'. Interesting take.

If citizens USA government the people crossing into Mexico for baby formula and gas. Why wouldn't gas companies move into Mexico. Where environmental standards are easier to hit..

He can’t stand the heat so he shifts the blame

HAHAHAHA

If Newsom wants to lower prices and create more competition he should encourage more supply ... ie expanding refineries, importing more fuel (ie building pipelines), &/or reducing enviro standards ... more taxes and penalties will result in less supply and higher prices. **sigh**

Nope, can't see any unintended consequences happening from this. Sure it will totally work as intended.

Isn’t this the guy that snuck the gas tax hike on the ballot? A NO actually meant Yes on the gas hike?

They lost billions during the lockdowns now they gotta get it all back plus they're afraid Newsom types are getting rid of oil so they gotta make $$ while they can.

His father made all of his money from the oil industry. So he got his silver spoon and everything that he has from the same oil companies. Is he going to give all of his money back?

Last year (2021), CA had a huge budget surplus thanks to federal Covid money. Just last week, Newsom, et. al. in Sacto are warning of a $27B budget deficit for 2022. I'd like to know where the huge surplus went--surely, it could not all have been given to illegal aliens by Gavin.

GodBlessTexas

If you are a California legislator, grow an pair and fight this tyrant. He is only using you and will kick you to the curb at the first opportunity.

It costs $3 to make a pair of Nike. Similar for all clothing. Do them next.

Prove it in court

The day that guy leaves the earth I’ll drink to it… Godspeed.

🤬🤬🤬🤬🤬🤬🤬🤬🤬🤬🤬🤬🤬 it's the American Democrat Communist party's fault

They should stop selling oil in CA.

What a joke, Newsom! We all know the Biden Administration war on our energy sector is 100% responsible for HIGHEST GAS PRICES!

I love the oil companies. California, not so much! I avoid California, and do not see it as Mecca, like Gov. Inslee does.

Just another way to increase the cost of gas in California. All costs, including taxes, is passed on to the consumer.

Penalties will only be passed on to consumers

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Newsom proposes measure to crack down on price gouging by oil companiesGov. Gavin Newsom is proposing a crackdown on price gouging by oil companies, by imposing penalties on excessive profits that would be refunded to Californians. Nationalize the gas companies. What's 'excess profits'? Is there a graph somewhere that breaks it down? I can see that being just as successful as fixing the homeless problem
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Newsom proposes measure to crack down on price gouging by oil companiesGov. Gavin Newsom is proposing a crackdown on price gouging by oil companies, by imposing penalties on excessive profits that would be refunded to Californians. Of course they’ve picked the most complicated solution. Just lower the price at the pump. We pay almost $2 in taxes What a recall and wanting to run for the white house can do Newsom proposes price gouging on oil companies to stop price gouging by oil companies… yeah that will work
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