CalMatters: Third time possibly the charm for Newsom’s campaign to limit oil profits ...Middle East

Will the third time be the charm for Gov. Gavin Newsom’s crusade against California gasoline refiners for what he alleges have been unjustified price spikes in recent months? This week, Newsom announced that he and legislative leaders have reached a deal on giving the California Energy Commission – whose members he appoints – power to monitor how oil companies transform crude oil into fuel, set limits on gross refinery profits and impose civil penalties for exceeding them. “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

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CalMatters: Third time possibly the charm for Newsom’s campaign to limit oil profits ...Middle East

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