Published 1 year ago

Newsom signs measure he hopes will prevent future gas price spikes

Summary by Ground News

Gov. Newsom to sign measure he hopes will prevent future gas price spikes Newsom's measure creates a new committee within the California Energy Commission. Committee will be empowered to gather private business information and data from refiners to consider whether to set a cap on company profits.

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Newsom signs measure he hopes will prevent future gas price spikes

Governor Gavin Newsom on Tuesday afternoon signed a bill he championed that would give state regulators the power to punish oil refiners when they make too much money off of California drivers.

1 year ago·Sacramento, United States

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My Mother Lode

Newsom Signs Measure To Potentially Prevent Gas Spikes

Sacramento, CA — In a move that could have significant impacts on the state’s oil refiners, Governor Gavin Newsom signed a bill on Tuesday that would give state regulators the power to impose penalties on oil refiners when they profit excessively from California drivers. The Governor had called for action against oil refiners six months ago, as California gas prices soared to $2.60 per gallon higher than the national average. Newsom had made it …

1 year ago

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