Officials spark backlash with about-face that could cause energy prices to spike: 'Disheartened and disgusted' - Finnoexpert

Officials spark backlash with about-face that could cause energy prices to spike: 'Disheartened and disgusted' - Finnoexpert

In late August, California energy regulators announced the deferment of a plan to penalize oil companies for high profits. The delay, until 2030, reverses portions of state legislation signed into law in 2023. What’s happening? Regulators at the California Energy Commission paused the profit penalties “after two oil refineries accounting for roughly 18 percent of the state’s refining capacity” signaled intentions to close, according to the Assoc…