California lawmakers promise relief with new select committee on ‘gas price gouging

Santa Cruz Sentinel ^ | June 20, 2022 | By ELIYAHU KAMISHER

[artichokegrower]

Democratic lawmakers in the State Assembly announced a probe into California’s oil and gas market on Monday, saying profiteering in the industry is partially behind the state’s record high gas prices that are now hovering around $6.40 a gallon.

The oil industry has a “foot on our necks and a hand in our pockets,” Assembly Speaker Anthony Rendon said during a news conference announcing a committee to investigate the industry’s pricing practices.

“These are companies that are obviously ripping off California consumers and we need to ask tough questions about them and their business practices,” he said.

[artichokegrower]

Severin Borenstein an energy economist at UC Berkeley applauded the formation of a select committee. He said lawmakers should focus on the impact of California’s concentrated oil refinery industry, which is largely controlled by a handful of companies, including Chevron, Marathon Petroleum, and PBF Energy.

Name Job title Regular pay Overtime pay Other pay Total pay Benefits Total pay & benefits Severin Borenstein Prof-Ay-B/E/E University of California, 2020 $562,815.00

Talk about ripping off the little folk. UC professor makes half a million a year

[FlingWingFlyer]

A select committee. ROTFLMAO. Yeah! Okay.

[skeeter]

Sacramento mandated “summer blend” has nothing to do with increased gas prices, of course. Otherwise they could just waive that requirement for a year or two.

Whatta bunch of lying frauds.

[Rurudyne]

Are they gonna recommend Democrat politicians all commit suicide?

[SpaceBar]

The state is the biggest gouger.

[mowowie]

What a joke

[beethovenfan]

The mind boggles at the ignorance of these people.

[struggle]

Their plan is to buy a huge mirror so the Californian politicians can find the real price gougers.

[TigersEye]

So they’re going to do something about the state gas tax gouging?

[artichokegrower]

How about getting rid of carbon credits

[Reno89519]

And what will the “select committee” accomplish? What can they even do?

[Savage Rider]

Gov’t stooges will never produce more energy by stomping their feet and investigating. Do these nimrods not remember how Wage & Price Controls worked for Nixon? https://www.cato.org/commentary/remembering-nixons-wage-price-controls

[100%FEDUP]

They can waste money, then come out on TV and announce Big Oil is price gouging without presenting any evidence and then the riots . . . er . . . peaceful protests will begin and spread throughtout the country.

[ConservativeInPA]

Maybe it’s time to start giving teachers and professors major payouts or pink slips.

[KarlInOhio]

Hey oil companies: stop gouging California. Ship all your oil produced there to Arizona. See, no gouging. No gas either so it’s extra green.

[sport]

Hopefully they will close the gas companies down.

[Mr. Jeeves]

He said lawmakers should focus on the impact of California’s concentrated oil refinery industry, which is largely controlled by a handful of companies, including Chevron, Marathon Petroleum, and PBF Energy.

That's the answer - implement a government monopoly, instead. Or maybe thousands of unregulated micro-refineries run by illegal aliens in Central Valley backyards... :)

[Seaplaner]

Here's a question for the (cough, cough) "select" committee.

How much of the cost of a gallon of gasoline sold in California is due to net profit?

Break it down, please.

- Federal tax

- State tax

- Costs and fees due to formulation specifications

- Costs of production and transportation

- Other costs and expenses

- Net profit

[gibsonguy]

It is not ignorance. It is deception. It is the rats that have caused the screw job but are pushing the blame to the oil companies.

[TornadoAlley3]

the federal government has its feet on our necks and hands in our pockets.