{"id":158059,"date":"2023-03-29T19:12:04","date_gmt":"2023-03-30T02:12:04","guid":{"rendered":"https:\/\/new.thepinetree.net\/?p=158059"},"modified":"2023-03-29T19:12:04","modified_gmt":"2023-03-30T02:12:04","slug":"governor-newsom-signs-gas-price-gouging-law-as-california-government-targets-big-oil","status":"publish","type":"post","link":"https:\/\/new.thepinetree.net\/?p=158059","title":{"rendered":"Governor Newsom Signs Gas Price Gouging Law as California Government Targets Big Oil"},"content":{"rendered":"<p>Sacramento, CA&#8230;Surrounded by legislators and community leaders in the rotunda of the California State Capitol, Governor Gavin Newsom signed legislation to implement the strongest state-level oversight and accountability measures on Big Oil in the nation \u2013 bringing transparency to California\u2019s oil and gas industry, shining new light on the corporations that have for decades operated in the shadows while ripping families off and raking in record profits.<\/p>\n<p><a href=\"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-2.webp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-158060\" src=\"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-2.webp\" alt=\"\" width=\"640\" height=\"427\" srcset=\"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-2.webp 1080w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-2-300x200.webp 300w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-2-1024x683.webp 1024w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-2-768x512.webp 768w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-2-570x380.webp 570w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-2-701x467.webp 701w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-2-1067x711.webp 1067w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<p><a href=\"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-1-1.webp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-158061\" src=\"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-1-1.webp\" alt=\"\" width=\"640\" height=\"427\" srcset=\"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-1-1.webp 1080w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-1-1-300x200.webp 300w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-1-1-1024x683.webp 1024w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-1-1-768x512.webp 768w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-1-1-570x380.webp 570w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-1-1-701x467.webp 701w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-1-1-1067x711.webp 1067w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<p>It is the latest instance in which the Governor has successfully taken on the historically powerful industry for putting profits over people. Last year, Governor Newsom signed<a href=\"https:\/\/mclist.us7.list-manage.com\/track\/click?u=afffa58af0d1d42fee9a20e55&amp;id=d4eacdb3be&amp;e=0b26ba1b5c\">\u00a0legislation adding new reporting requirements<\/a>\u00a0to oil refiners, as well as a\u00a0<a href=\"https:\/\/mclist.us7.list-manage.com\/track\/click?u=afffa58af0d1d42fee9a20e55&amp;id=293b9b8a0c&amp;e=0b26ba1b5c\">law protecting neighborhoods and schools<\/a>\u00a0from oil drilling.<\/p>\n<p>What Governor Newsom said:\u00a0\u201cWith this legislation, we\u2019re ending the oil industry\u2019s days of operating in the shadows. California took on Big Oil and won. We\u2019re not only protecting families, we\u2019re also loosening the vice grip Big Oil has had on our politics for the last 100 years.\u201d<\/p>\n<p>HOW IT WORKS:\u00a0Authored by Senator Nancy Skinner (D-Berkeley), co-sponsored by Attorney General Rob Bonta and approved by a\u00a0<a href=\"https:\/\/mclist.us7.list-manage.com\/track\/click?u=afffa58af0d1d42fee9a20e55&amp;id=20016bd09c&amp;e=0b26ba1b5c\">supermajority in both the Senate and Assembly<\/a>, SBx1-2 creates a dedicated, day-in and day-out, independent watchdog to root out price gouging by oil companies and authorizes the California Energy Commission (CEC) to create a penalty to hold the industry accountable. The law will go into effect on June 26, the 91st day after the end of the special session.<\/p>\n<ul>\n<li aria-level=\"1\"><a href=\"https:\/\/mclist.us7.list-manage.com\/track\/click?u=afffa58af0d1d42fee9a20e55&amp;id=4a9ce55e9e&amp;e=0b26ba1b5c\">Learn more about the new law here.<\/a><\/li>\n<\/ul>\n<p>WHY TRANSPARENCY MEASURES MATTER:\u00a0When the law\u2019s new transparency and oversight requirements go into effect at the end of June, the state will begin receiving more information than ever before, including last year when it appeared that oil producers suppressed supply to drive up prices and rake in record profits. Industry knows that the new independent watchdog division will be closely monitoring them and will refer any violation of law \u2013 including industry misconduct or market manipulation \u2013 to the Attorney General for prosecution.<\/p>\n<p>WHAT THEY\u2019RE SAYING:<\/p>\n<ul>\n<li aria-level=\"1\">Attorney General Rob Bonta:\u00a0\u201cRecord high retail\u00a0gas\u00a0prices \u2014 and record-breaking profits for Big Oil \u2014 hurt those who can least afford it most of all. For too long, Californians have been left in the dark when it comes to the practices of the\u00a0gas\u00a0industry. And while oil companies have been lining their pockets, many Californians are struggling to make ends meet. I proudly stand with the Governor as he signs into law our cosponsored\u00a0bill\u00a0to bring accountability and transparency to the\u00a0gas\u00a0industry. Together, we are fighting to even the scales for California consumers and take this burden off their shoulders.\u201d<\/li>\n<li aria-level=\"1\">Senate President pro Tempore Toni G. Atkins (D-San Diego):\u00a0\u201cThis bill provides important tools to help Californians get the answers we deserve about oil company profits and price gouging. Through the leadership of Senators Skinner, Bradford, Lim\u00f3n, and McGuire, and our colleagues in the Assembly and the Administration, these new reforms are strong on transparency and accountability. That\u2019s a big part of what it will take to stop any wrongdoing and protect California consumers.\u201d<\/li>\n<li aria-level=\"1\">Assembly Speaker Anthony Rendon (D-Lakewood):\u00a0\u201cAssemblymembers deserve praise for developing and passing this legislation, collaborating with the Governor and the Senate in the face of oil company intransigence. Our deliberations have been rigorous and transparent. Transparency is what we need now from the gas pricing system. That\u2019s what this bill is about.\u201d<\/li>\n<li aria-level=\"1\">Senator Nancy Skinner (D-Berkeley), author of SBX1-2:\u00a0\u201cI am proud of my colleagues for passing this first-in-the-nation protection against price gouging by Big Oil. Californians faced outrageously high gas prices last year, prices that strained family budgets an extra $600 or more a month. In calling for immediate action, Governor Newsom responded decisively in proposing SBX 1-2, the strongest, most effective transparency and oversight measure in the nation. This landmark law will allow us to hold oil companies accountable if they pad their profits at the expense of hard-working families. With SBX 1-2, California has sent a clear message to the oil industry: Open your books and prove you\u2019re not price gouging, otherwise Big Oil will pay the price \u2014 not consumers.\u201d<\/li>\n<li aria-level=\"1\">Assemblymember Jacqui Irwin (D-Thousand Oaks):\u00a0\u201cA supermajority of the Legislature, in partnership with the Governor, has just delivered for Californians struggling to afford gasoline. Not only will this new law provide real transparency and oversight with dedicated expertise to oversee the gasoline market, it will also create a plan to achieve our low carbon and clean air future. While the work is just beginning, experts will now have the tools they need to address outrageous prices at the pump.\u201d<\/li>\n<li aria-level=\"1\">Dwayne Crenshaw, President, Greater Sacramento Urban League:\u00a0\u201cFor far too Iong, Californians have been wrongly taxed at the pump by Big Oil. This tax has especially impacted those in low-income, urban communities of color, where residents struggle to pay for basic needs and can\u2019t afford price gouging at the pump. Governor Newsom\u2019s bold proposal addresses economic, environmental health and racial justice, while holding Big Oil accountable.\u201d<\/li>\n<li aria-level=\"1\">Mary Leslie, President, Los Angeles Business Council:\u00a0\u201cThe key to creating a clean energy economy that\u2019s good for business and consumers is ensuring transparency and accountability in our fuel markets. Governor Newsom\u2019s price gouging law protects California families and workers, while supporting our clean energy transition which is a big win for all of us. We thank the Governor and the Legislature for their quick action to bring much-needed transparency to the industry.\u201d<\/li>\n<li aria-level=\"1\">Max Vargas, VP of Economic Justice, Latino Community Foundation:\u00a0\u201cWe applaud Governor Newsom\u2019s leadership to tackle gasoline price gouging in California. Latino workers and small businesses are the backbone of local economies, but they\u2019re still reeling from the pandemic\u2019s disproportionate fallout, which oil company price hikes are further exacerbating. The creation of an independent watchdog for an industry this powerful is especially affirming for grassroots community leaders across the state who serve the working families directly affected by this price gouging.\u201d<\/li>\n<li aria-level=\"1\">Melanie Morelos, California Strategy Senior Program Manager, The Greenlining Institute:\u00a0\u201cWe applaud Governor Newsom, and the California State Legislature\u2019s swift action to tackle Big Oil\u2019s ongoing corporate greed. Too many California families are forced to choose between filling up the tank in order to get to work, over essential expenses like rent and childcare while oil executives line their pockets with record-breaking profits. This landmark legislation sends a clear message that we will not allow corporations to take advantage of our communities and that the reign of unchecked Big Oil is coming to an end.\u201d<\/li>\n<li aria-level=\"1\">Teri Olle, California Campaign Director, Economic Security Project Action:\u00a0\u201cFinally, California called Big Oil\u2019s bluff and won. The real reason this handful of massive corporations charge California twice as much for gas is that they can. We applaud Governor Newsom and the legislature for taking significant steps in addressing the unchecked corporate concentration which has been keeping our gas prices so high and in creating a more equitable and fair economy.\u201d<\/li>\n<li aria-level=\"1\">Jamie Court, President, Consumer Watchdog:\u00a0\u201cThis landmark reform makes California the first state in the nation to authorize a windfall profits cap on oil refiners so that they can no longer gouge consumers at the pump.\u00a0 Combined with unprecedented transparency measures and a new watchdog bureau, this price gouging penalty will prevent Californians from enduring the price spikes and profits spikes that have plagued the gasoline market last year. Governor Newsom has balanced the scales on behalf of millions of Californians who no longer will have to choose between $6 per gallon gas and putting food on their tables.\u201d<\/li>\n<li>Matt Petersen, CEO, LA Cleantech Incubator:\u00a0\u201cThe small business owners and startup founders we support\u2013and the workforce they employ\u2013are the engine of our state\u2019s growing cleantech innovation economy, yet they all suffer from price gouging at the pump that is enriching oil companies. We applaud Governor Newsom and the Legislature\u2019s leadership for pushing back to keep money in our cleantech workers\u2019 and small business\u2019 pockets while growing our economy\u2013the fourth largest in the world\u2013while putting in place bold, equitable climate action.\u201d<\/li>\n<li>Irvine Mayor Farrah Khan: \u201cI\u2019ve supported the Price Gouging Penalty bill (SBX1-2) from the beginning because I saw first-hand the effect high gas rates had on our residents. Thanks to Governor Newsom\u2019s fast action, Californians will no longer be charged unfairly at the gas pump by big oil companies.\u201d<\/li>\n<li aria-level=\"1\">Meghan Sahli-Wells, California Director, Elected Officials to Protect America (EOPA), Former Culver City Mayor:\u00a0\u201cI am proud to join over\u00a0<a href=\"https:\/\/mclist.us7.list-manage.com\/track\/click?u=afffa58af0d1d42fee9a20e55&amp;id=03c8dbce97&amp;e=0b26ba1b5c\">150 local elected officials<\/a>\u00a0throughout California who support transparency and accountability for an industry that has put their profits over our health, safety and wellbeing for far too long. We represent communities on the frontlines of fossil fuel pollution, unbreathable air and climate disaster, that, to add insult to injury, Big Oil has held hostage by unprecedented price hikes at the pump. We applaud the Governor for heralding, the and legislature for passing, this first in the nation bill to hold multi billion-dollar corporations accountable for price gouging, and laying the groundwork for a healthier, more just and economically vibrant California for all.\u201d<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Sacramento, CA&#8230;Surrounded by legislators and community leaders in the rotunda of the California State Capitol, Governor Gavin Newsom signed legislation to implement the strongest state-level oversight and accountability measures on Big Oil in the nation \u2013 bringing transparency to California\u2019s oil and gas industry, shining new light on the corporations that have for decades operated [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":158061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,20,5,1],"tags":[],"class_list":["post-158059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured","category-government","category-news","last_archivepost"],"jetpack_featured_media_url":"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/03\/Image-1-1.webp","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/158059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=158059"}],"version-history":[{"count":1,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/158059\/revisions"}],"predecessor-version":[{"id":158062,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/158059\/revisions\/158062"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/media\/158061"}],"wp:attachment":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=158059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=158059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=158059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}