California Gov. Gavin Newsom agreed to a watered-down proposal punishing Big Oil companies for charging high prices after a more aggressive version was swatted down.
struck a deal with state lawmakers Monday to"hold Big Oil accountable" amid a long streak of nation-leading consumer energy prices.cracking down on fossil fuel
"Together with the Legislature, we’re going to hold Big Oil accountable for ripping off Californians at the pump," Newsom said in a statement."Today’s agreement represents a major milestone in our efforts to drive the oil industry out of the shadows and ensure they play by the rules." of a proposal the governor backed in December to directly punish companies with financial penalties if their margins are determined to be too high. During a California Senate hearing in February, Democrats and experts alike expressed concern the original proposal could lead to even higher prices for state residents.
Though the new legislation represents a softer approach to punishing oil companies, industry groups still blasted it for creating additional bureaucracy.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gov. Gavin Newsom unveils homelessness ballot initiative in San DiegoCalifornia voters would decide whether to fund a major expansion of housing and treatment for residents suffering from mental illness and addiction.
Read more »
The surprisingly similar political strategy of Gavin Newsom, Ron DeSantisBy attacking brand names, the two men are able to elevate their national profiles beyond mere talking points.
Read more »
California to ask voters to approve new mental health bedsCalifornia voters would decide whether to fund a major expansion of housing and treatment for residents suffering from mental illness and addiction, under the latest proposal by Gov. Gavin Newsom to address the state's homelessness crisis. Newsom announced Sunday that he will ask allies in the Democratic-controlled Legislature for a measure on the 2024 ballot to authorize funding to build residential facilities where over 10,000 people a year could live and be treated. “This is the next step in our transformation of how California addresses mental illness, substance use disorder and homelessness — creating thousands of new beds, building more housing, expanding services and more,” Newsom said in a statement.
Read more »
'Tragedy into triumph': Murder victim's mother supports Gov. Newsom's San Quentin rehab programJill Harrison's daughter, Ciara, was murdered in southern California in 2019, by a man she had known for only a month. Her body was found 11 days later.
Read more »
Gov. Newsom tries to cap oil companies' profits, but will it create relief at the pump?Newsom's plan is to create a watchdog group to monitor gas prices in California and force penalties on refiners for overcharging. But, experts say don't expect any relief at the pump any time soon.
Read more »
California Gov. Gavin Newsom asks lawmakers for measure on 2024 ballot to approve new mental health bedsCalifornia Gov. Gavin Newsom is seeking authorization from state lawmakers to fund residential facilities for homeless people suffering from mental health issues.
Read more »