Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

California Gov. Gavin Newsom to Propose ‘Windfall’ Oil Profit Tax
The Wall Street Journal ^ | Oct. 7, 2022 | Christine Mai-Duc and Benoît Morenne

Posted on 10/07/2022 7:58:07 PM PDT by MinorityRepublican

California Gov. Gavin Newsom said he will call a special session of the state legislature to address the state’s highest-in-the-nation gasoline prices, including a possible new tax on oil industry profits.

Speaking to reporters in Sacramento, Mr. Newsom said he will call the special session to start Dec. 5, after new legislators elected in November are seated.

“Greed and manipulation, that’s all this is,” Mr. Newsom said of California’s gasoline prices, the only in the nation currently averaging above $6. In cities including Los Angeles, some stations are charging more than $7 for regular unleaded.

Speaking of oil companies, he added, “We mean business and if they don’t believe it, they’re about to find out.” He said he and legislative leaders would consider options including what he described as tax on “windfall” profits.

In a statement, a spokesman for the Western States Petroleum Association trade group called Mr. Newsom’s announcement a political stunt.

(Excerpt) Read more at wsj.com ...


TOPICS: Business/Economy; Government; News/Current Events; US: California
KEYWORDS: california; energy; gasoline; gavinnewsom; newsom; taxes
Navigation: use the links below to view more comments.
first 1-2021-35 next last

1 posted on 10/07/2022 7:58:07 PM PDT by MinorityRepublican
[ Post Reply | Private Reply | View Replies]

To: MinorityRepublican

Everybody knows taxing something brings the price down. Duh.


2 posted on 10/07/2022 7:59:30 PM PDT by M1911A1 (Drain The Swamp)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican

Just close all gas stations in CA. It will accelerate their transition to EVs — which is what they want anyway.


3 posted on 10/07/2022 7:59:50 PM PDT by rbg81
[ Post Reply | Private Reply | To 1 | View Replies]

To: All

What a genius! Think of all the money that will raise! Say, that wouldn’t cause the price of gasoline to go UP, will it?


4 posted on 10/07/2022 8:00:06 PM PDT by BipolarBob (I was born into this world with nothing . . and I still have most of it .)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican

Hey, I’ve got an idea….. LET’S HAVE A WINDFALL REVENUE/PROFITS TAX ON GOOGLE & FACEBOOK!


5 posted on 10/07/2022 8:01:32 PM PDT by House Atreides (I’m now ULTRA-MAGA-PRO-MAX)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican

Greed is absolutely right...government greed


6 posted on 10/07/2022 8:02:12 PM PDT by MulberryDraw (Stop trusting in man, who has but a breath in his nostrils. Of what account is he?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican

Hey California - hello $12.00 a gallon


7 posted on 10/07/2022 8:03:13 PM PDT by circlecity
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican

Hey Gavin, why not price controls? Idiot.


8 posted on 10/07/2022 8:05:36 PM PDT by rxh4n1
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican
Yup, Guv Nuisance, turn that $7.00/gallon gas into $10.00/gallon gas with a stroke of your pen.

Fits well with your allegedly "green" agenda.

Brought to you by:

The Watermelon Party:

”Green” on the outside
but RED on the inside!

9 posted on 10/07/2022 8:11:00 PM PDT by lightman (I am a binary Trinitarian. Deal with it!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican

you tax it more, so it cost more!

wth are these people retarded!?!?


10 posted on 10/07/2022 8:11:46 PM PDT by TexasFreeper2009
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican

This ahole wants to be president?

Give me a break.


11 posted on 10/07/2022 8:13:05 PM PDT by july4thfreedomfoundation (Disband and Defund the putrid FBI. America does not need an out of control Gestapo)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican

There you go. Official authoritarian socialism. Straight out of Stalin’s playbook from the 1930’s.

Just waiting for the “re-education” camps at this point.

Hey, the weather’s nice right now at least....


12 posted on 10/07/2022 8:13:27 PM PDT by rmccullo
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican

https://igentax.com/gas-tax-state-2/

State Gasoline Tax Undyed Diesel Tax Aviation Fuel Tax Jet Fuel Tax
Alabama $0.28 / gallon $0.29 / gallon $0.095 / gallon $0.035 / gallon
Alaska $0.0895 / gallon $0.0895 / gallon $0.047 / gallon $0.032 / gallon
Arizona $0.18 / gallon $0.18 or $0.26/ gallon $0.05 / gallon $0.035 / on 1st 10 million gallons after that no fuel tax applies
Arkansas $0.245 / gallon $0.285 / gallon no tax no tax
California $0.539 / gallon $0.41 / gallon $0.18 / gallon $0.02 / gallon
Colorado $0.22 / gallon $0.205 / gallon $0.06 / gallon $0.04 / gallon
Connecticut $0.0 / gallon*** $0.492 / gallon*** 8.1% petroleum products gross earnings tax 8.1% petroleum products gross earnings tax
Delaware $0.23 / gallon $0.22 / gallon $0.23 / gallon $0.05 / gallon
District of Columbia $0.342 / gallon $0.342 / gallon $0.235 / gallon $0.235 / gallon
Florida $0.08125 / gallon $0.19 / gallon $0.0427 / gallon $0.0427 / gallon
Georgia $0.00 / gallon $0.00 / gallon $0.01 / gallon No Fuel Tax with a Form MFD-03
Hawaii $0.16 / gallon $0.16 / gallon $0.01 / gallon $0.01 / gallon
Idaho $0.32/ gallon $0.32 / gallon $0.07/ gallon $0.06 / gallon
Illinois $0.392/ gallon $0.467 / gallon No Fuel Tax No Fuel Tax
Indiana $0.33 / gallon $0.55 / gallon Varies by Class Varies by Class
Iowa Between $0.24 - 0.305 / gallon Between $0.304 -0.325/ gallon $0.08 / gallon $0.05 / gallon
Kansas $0.240 / gallon $0.260 / gallon No Fuel Tax No Fuel Tax
Kentucky $0.246 / gallon $0.216 / gallon No Fuel Tax No Fuel Tax
Louisiana $0.20/ gallon $0.20/ gallon $0.20 / gallon $0.20 / gallon
Maine $0.30 / gallon $0.312 / gallon $0.30/ gallon $0.034/ gallon
Maryland $0.427 / gallon $0.4345 / gallon $0.070/ gallon $0.070/ gallon
Massachusetts $0.24 / gallon $0.24 / gallon $0.436 / gallon $0.234/ gallon
Michigan $0.272 / gallon $0.272 / gallon $0.03 / gallon $0.03 / gallon
Minnesota $0.285 / gallon $0.285 / gallon $0.05 / gallon $0.15 / gallon
Mississippi $0.18 / gallon $0.18 / gallon $0.064 / gallon $0.0525 / gallon
Missouri $0.22 / gallon $0.22 / gallon $0.09 / gallon No Fuel Tax
Montana $0.33 / gallon $0.2975 / gallon $0.05 / gallon $0.05/ gallon
Nebraska $0.248/ gallon $0.248 / gallon $0.050 / gallon $0.030 / gallon
Nevada $0.23/ gallon $0.27 / gallon $0.02 / gallon $0.01 / gallon
New Hampshire $0.222 / gallon $0.222 / gallon $0.04/ gallon Between $0.02 - 0.005/ gallon
New Jersey $0.421 / gallon* $0.494/ gallon* $0.165/ gallon $0.195 / gallon
New Mexico $0.17/ gallon $0.21/ gallon $0.17 / gallon No Fuel Tax
New York $0.1735/ gallon** Between $.157 - $0.173 / gallon Between $0.070 - 0.0173 / gallon $0.070 / gallon
North Carolina $0.385 / gallon $0.385 / gallon No Fuel Tax No Fuel Tax
North Dakota $0.230 / gallon $0.230 / gallon $0.08 / gallon $0.08 / gallon
Ohio** $0.385 / gallon $0.47 / gallon no tax no tax
Oklahoma $0.19 / gallon $0.16 / gallon $0.0008 / gallon $0.0008 / gallon
Oregon $0.38 / gallon $0.38 / gallon $0.11 / gallon $0.03 / gallon
Pennsylvania $0.576 / gallon $0.741 / gallon $0.06 / gallon $0.02 / gallon
Rhode Island $0.34 / gallon $0.34 / gallon No Fuel Tax No Fuel Tax
South Carolina $0.28 / gallon $0.28 / gallon No Fuel Tax No Fuel Tax
South Dakota $0.28 / gallon $0.28 / gallon $0.06 / gallon $0.04 / gallon
Tennessee $0.26 / gallon $0.27/ gallon No Fuel Tax No Fuel Tax
Texas $0.20 / gallon $0.20 / gallon $0.20 / gallon $0.20 / gallon
Utah $0.319 / gallon $0.319 / gallon Between 0.025 - $0.090 / gallon Between 0.025 - $0.090 / gallon
Vermont $0.3636 / gallon $0.341 / gallon $0.3636/ gallon No Fuel Tax
Virginia $0.28/ gallon $0.289 / gallon $0.05 / gallon $0.05 / gallon
Washington $0.494 / gallon $0.494 / gallon $0.18 / gallon $0.18 / gallon
West Virginia $0.357 / gallon $0.357 / gallon $0.152 / gallon $0.152 / gallon
Wisconsin $0.309 / gallon $0.309 / gallon $0.06 / gallon $0.06 / gallon
Wyoming $0.24 / gallon $0.24 / gallon $0.05 / gallon $0.05 / gallon


13 posted on 10/07/2022 8:14:15 PM PDT by TexasFreeper2009
[ Post Reply | Private Reply | To 1 | View Replies]

To: House Atreides
Better yet, a confiscatory "Politician's Tax." Let them keep, say, $40,000 a year to live on.
14 posted on 10/07/2022 8:16:06 PM PDT by ProtectOurFreedom (“I used to be nothing but a Deplorable Clinger, but I've been promoted to Brigadier Ultra-MAGA”)
[ Post Reply | Private Reply | To 5 | View Replies]

To: MinorityRepublican

Tax and spend - that’s all the rats know. Biden created the domestivc oil shortage, thereby increasing demand and thus a higher price. Newsom has no understanding of basic economics.


15 posted on 10/07/2022 8:24:30 PM PDT by beethovenfan (The REAL Great Reset will be when Jesus returns. )
[ Post Reply | Private Reply | To 1 | View Replies]

To: M1911A1

He just needs an excuse to throw blame away from him and Biden. It’s also a new scheme to finance all those $$ giveaways to the ‘poors.’


16 posted on 10/07/2022 8:26:37 PM PDT by Gaffer
[ Post Reply | Private Reply | To 2 | View Replies]

To: MinorityRepublican

Dumbass newscum knows full well the refinery are down for Maintenance, I so hate him


17 posted on 10/07/2022 8:27:41 PM PDT by markman46 (engage brain before using keyboard!!!you)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican

He is unbeatable. He can do anything.


18 posted on 10/07/2022 8:42:33 PM PDT by nwrep
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican

It would be great if the oil companies pulled out of California and quit selling gas there.


19 posted on 10/07/2022 8:42:40 PM PDT by Dalberg-Acton
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican
Who banned fracking in Kali? Why, you did Newsolini.

03-F69-A2-B-D74-F-4-F6-E-850-D-DB848-C5-C2-C07

20 posted on 10/07/2022 8:50:54 PM PDT by broken_clock (Go Trump! Still praying.)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-35 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson