California Energy Journal

California Energy Journal

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California Energy Journal
California Energy Journal
Newsom Opens Special Session with Proposed Oil Profits Penalty
Gasoline and Fuels

Newsom Opens Special Session with Proposed Oil Profits Penalty

Proposed legislation would make California the first state to penalize “excessive” oil company profits.

Dec 06, 2022
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California Energy Journal
California Energy Journal
Newsom Opens Special Session with Proposed Oil Profits Penalty
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California Governor Gavin Newsom introduced proposed legislation to penalize “excessive” oil company profits in response to record high gasoline prices in California. The proposal also provides a framework for future legislation to increase regulatory oversight of refineries and for an investigation into the causes of high gasoline prices. The legislati…

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