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 ...
That would close how many refineries?
Just down for maintenance drives up cost, closed refineries would be permanent price increase.
Not certain of the number of new refineries under construction currently but pretty sure the max number is ONE, maybe.
But, but, but the big oil companies will just absorb that loss.
Hey moron, let Chevron drill some holes in the ground. While you’re at it, take a few billion and build a couple of nukes and reservoirs. This ain’t rocket science.
And now we know why Snowman and the Bandit run rigs out of Georgia.
If I were big oil I’d shit down sales to California until they got a clue, or permanently if they remain clueless. Is there a law stating they are required to sell gas to california?
According to your post Pennsylvania has the highest tax in the country for gas and undyed diesel, higher than commiefornia.
Good guess. Probably cause there will be less of it.
These guys are the brightest.
The only tax ( tariff ) on crude oil should be on IMPORTED crude. Domestic oil should be untaxed. This woul further promote domestic production.
This coming from the moron who spent billions on a train to nowhere that never got on track.
“Biden created the domestic oil shortage, thereby increasing DEMAND and thus a higher price”
The oil shortage reduces SUPPLY thus a higher price. The demand is the other side of the equation. Higher prices alone reduce demand.
Pretty sure Newsom understands this. He wants to increase prices and lower demand or he just doesn’t care.
Doe this include aviation fuels? The rich in California fly everywhere aka, Kobe.
Hope it does.
CHEVRON has already announced they are moving out of Calif to Texas.
What oil companies are left there???
Chevron is moving their Headquarters from San Ramon to Texas.
I’m sure that will take care of all the homeless people on skid row murders robbing car jackings huh Gavin.
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