It’s time to blow the whistle on the farcical efforts of California’s politicians — especially Gov. Gavin Newsom — to reduce the state’s high gasoline prices.
Gov. Newsom Gavin was among the guests on hand for the pandas’ debut.
Severin Borenstein, a UC Berkeley economist regarded as the state’s leading expert on the issue, parsed the differential in a 2023 paper, pointing out that California’s direct and indirect taxes on fuel amount to nearly $1 per gallon — 70 cents higher than the national average of such taxes — and the state’s unique fuel blend to battle smog adds another dime.
Superficially that sounds plausible, but it assumes that refiners have storage capacity to comply with such a law or could easily expand storage. But storage is not without its costs, which could drive retail prices even higher. Newsom wants the Legislature to act immediately without “more analysis,” which is the antithesis of prudent lawmaking. Republican legislators are being semi-complicit by agreeing with Newsom that there is a gasoline price crisis. But they imprudently propose to lower or eliminate gas taxes, which are vital to the restoration of California’s much-neglected highway system.
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