Editorial: Big Oil reaps record profits while the planet burns. California should curb its greed

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Big Oil is posting record profits. It’s time for California lawmakers to get moving and advance legislation to curb excessive refinery profits and prevent oil companies from ripping people off while they pollute the planet.

to overturn a new California law that bans new drilling near homes and schools to protect people’s health. Limiting their ability to rip off consumers at the pump seems like the bare minimum to expect from our representatives in Sacramento.

Experts say it’s important to craft the penalty carefully to avoid disrupting the market or diminishing fuel supply, and given the industry’s likelihood of challenging any law that places limits on its profits. But that is no reason to hold back. California’s gas prices reached new heights last year as the the Russian invasion of Ukraine, among other factors, pushed prices to an average of $6.44 in June 2022, the highest on record in the state,. In October, Californians paid more than $2.60 a gallon higher than the average American to fill up at a time when people’s finances were already strained by economy-wide inflation. The current average price for regular gasoline in California is now $4.

 

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Greedy, corrupt, oil companies and US (liberals) Government.

Guns kill people, cars kill the planet, both should be confiscated by the government

We're the only oil producing state in the country without an extraction tax. Maybe start there...

My stock portfolio loves it.

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