The governor accused oil companies of raking in "unprecedented profits on the backs of hard-working Californians — nearly $100 billion in the last three months alone.”
SACRAMENTO, Calif. (CN) — California lawmakers will go back to work in a special session in December to discuss levying a windfall tax on oil companies as residents are again paying record prices for gasoline.
After indicating Thursday that he was considering calling a special session, Gov. Gavin Newsom made it official Friday. “Gas prices are too high. Time to enact a windfall profits tax directly on oil companies that are ripping you off at the pump,” Newsom said in a statement.
Average gas prices in Sacramento ranged from $5.89 to $6.39 per gallon on Friday, according to a GasBuddy map updatedby ABC 10.
In a report released Sept. 30 when he announced the windfall tax proposal, Newsom said oil companies have raised California gas prices “by a record 84 cents per gallon in just the last 10 days” even as crude oil prices dipped.
Gov. Gavin Newsom signed 40 climate action bills Friday in Vallejo, Calif. on Sept. 16. Screenshot via state of California livestream.
“At the end of August, crude oil prices were roughly $100 per barrel, and the average gas price in California was $5.06. Now, even though the price of oil has decreased to $85 per barrel, the average gas price at the pump has surged to $6.29,” Newsom said in his Sept. 30 statement. “Meanwhile, oil companies have raked in unprecedented profits on the backs of hard-working Californians — nearly $100 billion in the last three months alone.”
The special legislative session will take place Dec. 5.
Newsom’s action comes amid what some have called an “escalation” in the governor’s war with the oil industry, as he pushes the state’s move toward alternative energy sources.
He signed a new climate plan Thursday in San Francisco alongside other West Coast leaders to commit to prioritizing green energy industries and lead the country on climate action, saying “Eat your heart out, Fox News.” He also ordered the California Air Resources Boardto increase the state’s gasoline supply by allowing oil refineries to make an early transition to winter-blend gasoline.
The windfall tax has been proposed before, by Democratic Assemblymember Alex Lee of San Jose, but it failed to move forward according to CalMatters. In a statement, state Senate President Pro Tem Toni Atkins, a Democrat from San Diego, and Assembly Speaker Anthony Rendon, a Democrat from Lakewood, said, “We’ll look at every option to end the oil industry profiteering off the backs of hard working Californians.”
Opposition to the windfall tax and special session has already come from the Assembly Republican leader James Gallagher, from Yuba City, and Budget Committee vice chair Vince Fong, a Republican from Bakersfield. They urged Newsom not to call the special session unless the goal is to cut the gas tax and reduce fees and regulations. Both lawmakers count gas companies and organizations like Chevron, Valero, California Independent Petroleum Association and Marathon Petroleum among their major campaign contributors, according to the nonprofit and nonpartisan research organization Vote Smart.
Gallagher, who frequently criticizes the governor on Twitter, claimed in a statement that high taxes on gasoline are why costing Californians are paying more at the pump than residents in other states.
“Any attempt to deflect away from this reality is insulting to struggling Californians who are well aware that Florida and Texas drivers are paying around $3 per gallon,” he said.
Fong also said on Twitter: “Newsom/Biden are attacking local domestic oil and natural gas production when we need it most.”
California Attorney General Rob Bonta said he supports monitoring Big Oil.
“Earlier this year, my office warned refineries against taking advantage of ongoing market disruptions, and I want to again be clear: Market manipulation is illegal,” he said in a joint statement with Newsom. “My office is monitoring the market closely, and we will not hesitate to take action if we find evidence that the law is being violated.”
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Our California Governor is so plastic. He only addresses issues like gas prices at election time. Just look at the timing of California’s rebate checks being sent out In October just before the elections, (he’s buying votes). Shame on him.
California needs a honest and responsible Governor not a Snowflake.
The city of Santa Clarita is now accepting short poem entries for the Sidewalk Poetry Project from residents and individuals with connections or ties to Santa Clarita.
Returning for a fourth year, the “Fringe of the Woods Festival” will again be held Aug. 9-11 at the Mile High Theater in Lake of the Woods/Frazier Park.
The city of Santa Clarita is now accepting short poem entries for the Sidewalk Poetry Project from residents and individuals with connections or ties to Santa Clarita.
Returning for a fourth year, the “Fringe of the Woods Festival” will again be held Aug. 9-11 at the Mile High Theater in Lake of the Woods/Frazier Park.
The Val Verde Historical Society will host Back to Val Verde for Val Verde's 100! on Saturday, Aug. 31 at 11 a.m. This all day picnic and celebration will feature food, music, games and raffles.
Can you help us identify these thieves? The Santa Clarita Valley Sheriff's Station is seeking the public's help in identifying two grand theft suspects. On June 22 two suspects stole a white 2019 Toyota Tacoma tailgate from a vehicle in Valencia.
The city of Santa Clarita and DrinkPAK! are seeking talented creators for Maker's Marketplace, a curated shopping experience at the city's largest holiday event, Light Up Main Street.
Outgoing Santa Clarita Valley Sheriff's Foundation President Gloria Mercdo-Fortine recently received high praise for her tenure as president of the foundation for the past four years.
Here we are at the end of July and preparations for the fall season are already underway at most of our member schools. As is the case most every year, school administration and athletic faculty should be aware and ready to immediately implement the rule changes enacted the previous year.
The California Department of Transportation announced the southbound Interstate 5 will be reduced to one or two lanes from two miles north of Templin Highway (near the Whitaker Sand Shed) north of Castaic to Lake Hughes Road overnights Monday, July 29 through Friday, Aug. 2 for paving work.
The Santa Clarita Valley Economic Development Corporation announced earlier this month that Jey Wagner stepped down from his role as president and CEO effective July 8, 2024.
(CN) — The California Supreme Court on Thursday rebuffed a union-backed challenge to the voter-approved law that exempts app-based drivers working for companies such as Uber, Lyft and DoorDash from being classified as employees rather than independent contractors under the state's labor code.
Nothing says Santa Clarita like our beautiful mountains, pristine parks, paseos meandering through our neighborhoods, lush trees and amenities for residents of all ages.
In honor of World Suicide Prevention Day, the second annual "Game. Set. Hope. Charity Tennis Tournament" will be held Saturday, Sept. 7, beginning 9:30 a.m., at the West Ranch High School tennis courts.
Building on California’s ongoing work and unprecedented investments to address the decades-long issue of homelessness, California Gov. Gavin Newsom issued an executive order Thursday ordering state agencies and departments to adopt clear policies that urgently address homeless encampments while respecting the dignity and well-being of all Californians.
The Los Angeles County Department of Public Health cautions residents who are planning to visit the below Los Angeles County beaches to avoid swimming, surfing, and playing in ocean waters:
The Los Angeles County Departments of Mental Health and Public Health have centralized access to mental health and substance use services into one 24/7 call center at (800) 854-7771.
The Santa Clarita Valley Water Engineering and Operations Committee will hold a meeting Thursday, Aug 1, at 5:30 p.m., in the Engineering Services Section Boardroom, 26521 Summit Circle in Santa Clarita.
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1 Comment
Our California Governor is so plastic. He only addresses issues like gas prices at election time. Just look at the timing of California’s rebate checks being sent out In October just before the elections, (he’s buying votes). Shame on him.
California needs a honest and responsible Governor not a Snowflake.