A new class of state lawmakers will be sworn in Monday and thrust into the middle of Gov. Gavin Newsom’s political fight with oil companies, testing the clout of an industry that spends heavily to influence the Legislature and potentially affecting gas prices for Californians.
The sting of high gas prices has been felt all over the world. One week before the November election, President Biden threatened a similar federal tax on major U.S. oil companies unless they increased production. Several European countries, including the United Kingdom and Spain, have implemented windfall profits taxes while other international governments have shown interest in some form of profit penalty.
The special session is the first Newsom has called since taking office in 2019 and allows for bills to take effect faster, 90 days after adjournment, than legislation passed in a regular session. Both Senate President Toni Atkins and Assembly Speaker Anthony Rendon declined interview requests. Rendon wants to see the governor’s proposal before commenting, a spokesperson said.
The California Energy Commission pointed out that “maintenance issues” at the five refineries in the state were often related to price spikes. With a limited number of refineries in California, problems that take equipment offline offset the balance of supply and demand. Staff said the state is isolated from alternative sources, such as international producers, and price spikes caused by refinery outages last longer than in other places because of delays in backfilling supply.
Refineries are not required to report planned maintenance to the state, which means multiple refineries can end up unexpectedly reducing production at the same time and lowering supply.
That he sent you a press report about
Right now we should be doing everything possible to make it easier to produce oil in CA.
California’s political regime has openly declared it wants to drive the oil industry out of California and out of business. Now each and every businesses and consumer is paying the price. Because everything is delivered by truck, and transportation costs are passed on. Fools!
Rent is an average of $3700 per month! Get your shit together LA Times!!! You know you want a cool editor who yells at you!!!
Raise taxes that will lower prices!!!
This isn’t the first time they’ve price gouged
Sure, let’s make it even harder to produce oil in our country.
Well they should penalize themselves for having the highest gas taxes in the nation and have done everything to prevent increased abilities to refine crude oil, which would drop costs immediately.
Why is the same fuel cheaper in every other state…. I don’t get it?!? 😏
How can anyone vote for these people? The Gas Tax is still in effect
Stop spreading Iran regime’s propaganda nytimes. Regime’s general DID NOT say the “morality police” is “abolished” or “ending”. Your repeating fall for the false news COSTS Iranian people. It COSTS. Be RESPONSIBLE. MahsaAmini IranRevolution Iran
Get ready for shortages.
So they will increase the price for the rest of the nation to offset the profit loss from Californias penalties? You Democrats use to be for the little guy, now you are forcing high gas prices and unaffordable EV's. Single parents and many others can't afford your policies.
How about suspend the gas tax. Even better. Eliminate it all together.
How about getting rid of the requirement to have a special blend of gas in California?
Just show people the gas prices in Germany and they will feel better.
Soon to be ITT: people who don't understand that if costs were truly to blame for the higher prices, profits wouldn't be soaring.
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