The California Energy Transition

The California Energy Transition

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The California Energy Transition
The California Energy Transition
Newsom Amends Oil Profits Penalty Proposal
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Gasoline and Fuels

Newsom Amends Oil Profits Penalty Proposal

New plan would empower state regulator to investigate oil prices and penalize companies.

Mar 16, 2023
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The California Energy Transition
The California Energy Transition
Newsom Amends Oil Profits Penalty Proposal
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Governor Gavin Newsom introduced an amended proposal to his oil profits penalty that would give the state regulatory increased oversight authority. The amended proposal marks the abandonment of his proposed legislation to penalize “excessive” oil company profits in response to record high gasoline prices in California. (see Newsom Opens Special Session …

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