Posted on 03/23/2023 1:11:40 PM PDT by ChicagoConservative27
California lawmakers voted on Thursday to advance a bill that would penalize oil companies for “price gouging” — a first-of-its-kind legislation pushed forward in recent months by Gov. Gavin Newsom (D).
The SBX1-2 bill, sponsored by state Sen. Nancy Skinner (D), received the approval of the California State Senate in an Extraordinary Session convened to fast-track the legislation on Thursday morning.
The bill could head to the State Assembly as early as Monday and receive the governor’s signature shortly after that, a source familiar with the matter told The Hill.
Newsom commended the state Senate’s “quick action” following the vote, stressing that “for decades, oil companies have gotten away with ripping off California families while making record profits.”
“With this proposal, California leaders are ending the era of oil’s outsized influence and holding them accountable,” the California governor said in a statement.
(Excerpt) Read more at thehill.com ...
I wonder how much tax revenue is generated by the gas tax. %.
Given their budget shortfall already.
I wonder how they plan to make that up.
Of course it won’t be “gouging” when they add another dollar per gallon in taxes.
“for decades, governments have gotten away with ripping off California families while making record profits.”
Fixed it...
“for decades, governments have gotten away with ripping off California families while making record profits.”
Fixed it...
Given their budget shortfall already. I wonder how they plan to make that up.
—
One guess, one guess only.
I saw somewhere that Cali has more refineries than Texas.
Is that true?
I would bet that if you tried to build a refinery anywhere in the U.S. that it wouldn’t be worth the effort to the Companies.
More economic idiocy from Governor Hairgel. Create a shortage, suppliers make more money, penalize them.
Communism still won’t work even under the supersized ego of Newsom the Vile.
Not many oil companies drilling around there anyway.
Screw them.
That's exactly what they want to do.
That’ll shut things down. I’m sure the greenies will love it
It's about god damn time! Inflation is just a kinder euphemism for price gouging and outright greed.
These idiots really deserve every ounce of pain they get from laws like this.
Prepare for shortages
Ronson?
Newsom gets big win”
What crock. He has a super majority. The Hill is just trash.
What about tax gouging?
Yep, stop the trucks, trains and pipelines. Redirect shipping to friendly states. You don't want our oil and gas, fine there are 49 other states who do.
Heat your homes with cow dung for all I care. Oh wait you don't want cows either. I guess you can use roach and cricket poop instead.
Exactly!
They should pull out now! Don’t wait around. Walk away, make the Gov and legislature provide gas and diesel, and then sue them at every turn, for the environment you know.
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