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Newsom’s New Bill to ‘Hold Big Oil Accountable’ will Fine Local Refineries Up to $1 Million PER DAY, Cause Gas Prices to Spike – Refineries Announce They Are Leaving CA
Gateway Pundit ^ | October 21, 2024 | Cristina Laila

Posted on 10/21/2024 12:47:59 PM PDT by Red Badger

Meanwhile in the Democrat hellhole of California…

California’s Democrat Governor Gavin Newsom signed a bill to hold Big Oil accountable – only it will lead to gas shortages and price hikes.

Big Oil “has been screwing you for decades,” Newsom said.

“Price spikes have cost Californians billions of dollars over the years, and we’re not waiting around for the industry to do the right thing,” Newsom said.

“We’re taking action to prevent these price spikes and save consumers money at the pump,” he said.

The bill passed the California Assembly last week with a 41-16 vote. Many Democrats did not vote and four voted against the radical measure.

The measure will force local refineries to stockpile fuel and if they don’t follow the new regulations they can be fined up to $1 million PER DAY.

The heavy fines will inevitably be passed down to the consumer and cause gas prices to spike.

“ABX2-1 authored by Assemblymembers Gregg Hart and Cecilia Aguiar-Curry and Senator Nancy Skinner — allows the state to require oil refiners to maintain a minimum inventory of fuel to avoid supply shortages that create higher gasoline prices for consumers and higher profits for the industry. It also authorizes the California Energy Commission to require refiners to plan for resupply during refiner maintenance outages,” the governor’s office said.

Refineries announced they are leaving California because of Newsom’s new bill.

Phillips 66 refinery announced they are ceasing operations in Los Angeles because of Newsom’s bill.

“With the long-term sustainability of our Los Angeles Refinery uncertain and affected by market dynamics, we are working with leading land development firms to evaluate the future use of our unique and strategically located properties near the Port of Los Angeles,” said Mark Lashier, the chairman and CEO of Phillips 66.

Chevron is also moving its headquarters from California to Houston, Texas thanks to Newsom.

Newsom still found a way to blame Trump for high gas prices in California.

WATCH:

VIDEO AT LINK......................

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TOPICS: Breaking News; Business/Economy; Government; Politics/Elections; US: California
KEYWORDS: california; californication; centralplanning; chevron; classwarfare; gaspinnobrain; gavinnewsom; grabbinnuisance; hairgelhitler; kentfield; marincounty; newscum; newsom; oil; phillips66; pricecontrols
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This man is a blithering idiot..................
1 posted on 10/21/2024 12:47:59 PM PDT by Red Badger
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To: Red Badger

“Big Oil” isn’t screwing us, Newsom is.


2 posted on 10/21/2024 12:50:46 PM PDT by beethovenfan (The REAL Great Reset will be when Jesus returns. )
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To: beethovenfan
#2: "Big Oil” isn't screwing us, Newsom is."

Yep. Spot on. Anyone who believes that big oil is screwing Californians deserves what they get.
The State of California is why Californians pay more for gas than anyone, not the oil companies.

3 posted on 10/21/2024 12:56:01 PM PDT by Governor Dinwiddie (O give thanks unto the Lord, for He is gracious, and His mercy endureth forever. — Psalm 106)
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To: Red Badger

hey, give Gavin Nobrain a break. He is jusy trying to prove he is just as inept as any one in Biden’s administration in preparation for a 2028 Presidential run.


4 posted on 10/21/2024 12:56:20 PM PDT by antidemoncrat
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To: Red Badger
""Big Oil" "Big Government" has been screwing you for decades ..."
5 posted on 10/21/2024 12:57:27 PM PDT by plain talk
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To: Red Badger

Most politicians with at least some brain cells would wait until after the election to bring this scheme up.


6 posted on 10/21/2024 12:57:58 PM PDT by Mark (DONATE ONCE every 3 months-is that a big deal?)
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To: Red Badger
He is creating their "socialist utopia." What could possibly go wrong? /sarc off

That said, it's any wonder that anyone would want to live in CA these days. I honestly wish the state could split into smaller individual states so that the conservative parts wouldn't suffer from such stupidity.

7 posted on 10/21/2024 12:58:17 PM PDT by ducttape45 (Jeremiah 17:9, "The heart is deceitful above all things, and desperately wicked: who can know it?")
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To: Red Badger

So let me get this straight…they caused Tesla to flee, now the oil companies are leaving. So they’ve booted both electric and oil.. what’s next? Forcing all the horses to leave?


8 posted on 10/21/2024 12:58:32 PM PDT by Scott from the Left Coast (It’s my favorite Holiday time at FR: Fear Porn Season)
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To: Red Badger

I hope other follow Phillips 66 example


9 posted on 10/21/2024 12:59:17 PM PDT by Michael.SF. (Pray for Biden: Psalms 109: 8)
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To: Red Badger

I used to live a few miles from the Phillips66 refinery. That is one HUGE operation. Goodbye thousands of jobs. And the more thousands of jobs and small businesses that rely on it.

RATs don’t care. Gruesome’s hair won’t even get missed. The millions of leftist morons will never connect their free falling economy with their own policies.


10 posted on 10/21/2024 1:00:56 PM PDT by Seruzawa ("The Political left is the Garden of Eden of incompetence" - Marx the Smarter (Groucho))
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To: Michael.SF.

Exon was the first to lead the way ARCO mum?.

$$$$$$$$$$$$$$$$?.


11 posted on 10/21/2024 1:02:16 PM PDT by Vaduz
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To: Red Badger

Hey! Numbnuts! If you want to lower distillate fuel prices in CA, cut the gas tax which is 68.1 cents per gallon, the highest in the US. Another thing you could do is encourage oil production, especially offshore. I realize this is a problem for you since you hate the internal combustion engine (ICE). but can your state sustain EV’s in light of falling electric production? You need new power plants to come online immediately but every time a company tries to build one, out come the tree-huggers to shut it down. Hope you CA people enjoy your “rolling brownouts” when there’s no power for your EVs and the old ICEs have no fuel in the tank because your politicians drove them out of the state.


12 posted on 10/21/2024 1:03:09 PM PDT by econjack
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To: Red Badger

California is a failed state.


13 posted on 10/21/2024 1:03:22 PM PDT by SpaceBar
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To: plain talk

$34T and counting!!!


14 posted on 10/21/2024 1:05:56 PM PDT by Harpotoo (Being a socialist is a lot easier than having to WORK like the rest of US:-))
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To: Red Badger

And if those refinery’s do move he’ll tax the heck out of any oil being transferred to those other states through CA.


15 posted on 10/21/2024 1:09:32 PM PDT by SkyDancer ( ~ Am Yisrael Chai ~)
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To: Red Badger

People in Cali use about 38 million gallons of gas daily, so the refineries need to raise their prices about 3-to-4 cents per gallon to the stations to cover the fine, and then those stations need to post that the price the consumer is paying includes gas tax of about 68 cents per gallon (see reply 12), plus now this additional 4 cents per gallon to cover their punishment for fulfilling consumer demand. That 72 cents per gallon extra cost I suspect dwarfs the profits made by both the service station and the refinery.


16 posted on 10/21/2024 1:13:28 PM PDT by Stosh
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To: Red Badger

Where will Newsome allow refiners to store massive amounts of gasoline? Gasoline and Diesel are not shelf stable commodities. But, I will enjoy the destruction Californians have voted for. My only problem is I have family there and still drive once in a while. And dang it hurts when Diesel is $8 a gallon through the Eastern Owen’s Valley


17 posted on 10/21/2024 1:14:38 PM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eyes)
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To: SpaceBar
California is a failed state.

California is in decline, it will continue in decline, things will get worse.

18 posted on 10/21/2024 1:16:48 PM PDT by 1Old Pro
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To: Red Badger

Most of the price spikes are California’s regular tax increases on gasoline.


19 posted on 10/21/2024 1:21:10 PM PDT by FoxInSocks ("Hope is not a course of action." — M. O'Neal, USMC)
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To: Red Badger
Big Oil “has been screwing you for decades,” Newsom said.

Classic democrat projection.

Democrats byword is *Do as I say, not as I do*.

20 posted on 10/21/2024 1:22:15 PM PDT by metmom (He who testifies to these things says, “Surely I am coming soon.” Amen. Come, Lord Jesus”)
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