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.
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“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.
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.
Most politicians with at least some brain cells would wait until after the election to bring this scheme up.
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.
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?
I hope other follow Phillips 66 example
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.
Exon was the first to lead the way ARCO mum?.
$$$$$$$$$$$$$$$$?.
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.
California is a failed state.
$34T and counting!!!
And if those refinery’s do move he’ll tax the heck out of any oil being transferred to those other states through CA.
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.
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
California is in decline, it will continue in decline, things will get worse.
Most of the price spikes are California’s regular tax increases on gasoline.
Classic democrat projection.
Democrats byword is *Do as I say, not as I do*.
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