Newsom Calls Special Legislative Session to Consider Tax on Oil Companies

Newsom dismisses criticism of California gasoline regulations and claims oil companies are price gouging.

Governor Gavin Newsom called for a special legislative session “to address the greed of oil companies.” Newsom stated at the time that “[g]as prices are too high. Time to enact a windfall profits tax directly on oil companies that are ripping you off at the pump.” A windfall profits tax is an additional tax on a sudden increase in profits for a particul…