Posted on 10/15/2024 6:02:00 AM PDT by ChicagoConservative27
California Gov. Gavin Newsom (D) signed another law Monday, claiming to be taking action against gas prices but without lowering taxes, removing the state’s onerous “cap-and-trade” system, or easing regulations on refineries.
Those are the factors that the industry, and independent experts, say are the main contributors to the fact that the Golden State pays an average price of $4.677 per gallon, the highest in the nation, well above the average of $3.203.
Instead, Newsom has again blamed the oil and gas industry, as in previous years. The new law, which he pushed through in a special legislative session, requires refineries to maintain excess fuel supplies to prevent price spikes.
In 2022, Newsom used another legislative session to pass a law aimed at supposed “price gouging,” and created a penalty on windfall profits for oil companies. The gas price remained stubbornly high in California, regardless.
(Excerpt) Read more at breitbart.com ...
I think I paid $3.07 in Nebr. yesterday.
Just the state tax on gasoline in California is 59.6 cents/gallon. It was increased from 57.6 cents a few months ago. That’s $12 to $20 to the state per fill-up. No room to save consumers from that cash cow, is there?
This will have the exact opposite effect.
And I suspect that Newsom knows and approves of it...................
requires refineries to maintain “excess” inventories ... just one more straw to drive the few remaining refineries out of california ...
Even worse, they knew a 47-cent-per-gallon gas tax increase is coming in 2025
https://californiaglobe.com/fl/californias-gas-supply-restrictions-lead-gavin-newsom-to-world-stage/
What California r4eally needs is the PEACE Act
Public
Employee
Anti
Carbon
Emission
ACT, forbidding ALL Public Em-ployee’s from using any type pf transportation tha6t emits CARBON. And it should be a FELONY for any Public Employee to use, own or posess any ITEM that emits CARBON.
“ requires refineries to maintain “excess” inventories ...”
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Well. That should be “free” and require no capital or “carrying” costs…doncha know. /s
Politicians need to have their asses kicked for messing with the prices we have to pay for things. If they want to raise “da minimum wage” and the “cost of things”, they need to start their own damn business. Otherwise, stay the hell out of the business of the people who make America work. The only thing them bass turds do is screw everything up.
Thank God for crowdsourcing apps like Gas Buddy. Little difference when the price range is tight, but every little bit counts.
No, prices will drop, a few cents, before the election, then spike in December and the blame will go to Trump—brilliant really. California sheeple will believe it too. Old game—always works to get Democrats in power. They can’t lose—ever. I am sure Newsom will change the name of the state to the Democratic Progressive state of California.
Does Newsom think he's more of an expert on oil industry supply chain management than the companies themselves? Earth to Gavin - they have an interest in avoiding supply chain issues and are in a better position to manage it than you. Maintaining excess is going to result in periods of unprofitability and ultimately, the shutting down of stations.
Let me see - we’ll raise the refineries costs and that will miraculously lower gas prices, right??? Talk about dumb!!!!
Politicians’ strategy is to usually give an “appearance” of actually doing something while, at the same time, giving themselves plenty of “escape” room to avoid blame or consequences. Nothing they do is either substantive or long term as they perpetually kick the can down the road for someone else to deal with.
State fuel taxes are the ultimate “windfall profit”, as the State contributes zip-zero-zilch-nada to the manufacture of the product.
And in many ways, actively impedes and adds costs to producing fuel.
IIRC-—CALIF HAS THE LARGEST ARRAY OF DIFFERENT GASOLINE FOR DIFFERENT TIMES OF THE YEAR. MULTIPLE “BLENDS”.
SOOOOOOOOOOOO-—EXACTLY WHICH BLEND DOES NEWSOM WANT THEM TO STOCKPILE???
ANOTHER SCREWY LAW.
REFINERS ARE GOING TO LEAVE CALIF PERMANENTLY....THAT WILL RAISE THE PRICES to COVER TRANSPORTATION FROM ELSEWHERE-—IF ANY COMPANY SENDS THEM ANY GAS AT ALL.
AND-— IF I CANNOT get long term storage out of today’s gasoline-—HOW WILL THE REFINERIES???
The gouging is the state’s per/gallon tax.
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