California bill penalizing oil profits makes little progress
Summary by Ground News
Gov. Gavin Newsom’s proposal to cap oil companies’ profit margins in California met a dose of skepticism at its first public hearing Wednesday before a state Senate committee.
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California bill penalizing oil profits makes little progress
A bill that would be the U.S.'s first penalty on excessive oil company profits is still sitting in California's Democratic-controlled Legislature with no details on how much the penalty would be or when oil companies would have to pay it.
California bill penalizing oil profits makes little progress
California lawmakers are having their first public hearing on a proposal to penalize some oil company profits. Gov. Gavin Newsom proposed the law in response to record high gas prices
California bill penalizing oil profits makes little progress
By ADAM BEAM
Associated Press SACRAMENTO, Calif. (AP) — California lawmakers are having their first public hearing on a proposal to penalize some oil company profits. Gov. Gavin Newsom proposed the law in response to record high gas prices over the summer. Newsom unveiled the bill in December. But since then, it has not advanced in the Democratic-controlled state Legislature. The bill is still missing details on what the penalty would be and whe…
California bill penalizing oil profits makes little progress
By ADAM BEAM
Associated Press SACRAMENTO, Calif. (AP) — California lawmakers are having their first public hearing on a proposal to penalize some oil company profits. Gov. Gavin Newsom proposed the law in response to record high gas prices over the summer. Newsom unveiled the bill in December. But since then, it has not advanced in the Democratic-controlled state Legislature. The bill is still missing details on what the penalty would be and whe…
State committee meets to discuss price gouging penalty on oil company profits proposed by Gov. Newsom
Governor Gavin Newsom is leading a charge to penalize oil companies for making excessive profits after gasoline prices spiked to more than $6.40 per gallon last summer. Committee members met on Wednesday to discuss passing the proposed bill through legislation.
