Commentary: After two false starts, California Gov. Gavin Newsom is trying again to set limits on oil refinery profits and impose penalties for exceeding them.
that he had called to deal with the issue. He and legislative leaders plan to fast-track the bill, with the goal of placing it on his desk before the Legislature takes its spring break early next month.
The industry has been fairly successful in staving off efforts by politicians to regulate its operations. Last year, Newsom and the Legislature placed restrictions on oil wells near schools and homes but they are on hold because theColumnist Dan Walters unpacks events in California each week.By clicking subscribe, you agree to share your email address with CalMatters to receive marketing, updates, and other emails.
When the issue was explored in a legislative hearing, however, expert witnesses, including those not affiliated with the oil industry,on the state’s ability to determine when pump prices had become price gouging. Legislators were obviously uncomfortable with casting votes to penalize something that could not be precisely defined.
Were the revised legislation to quickly gain legislative approval and be signed by Newsom, the special session he called could then be adjourned, and the new law would take effect 90 days later.what it did on last year’s oil well siting measure
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