{"id":162201,"date":"2023-06-26T19:02:42","date_gmt":"2023-06-27T02:02:42","guid":{"rendered":"https:\/\/new.thepinetree.net\/?p=162201"},"modified":"2023-06-26T19:02:42","modified_gmt":"2023-06-27T02:02:42","slug":"nations-first-gas-price-gouging-law-requiring-daily-reporting-goes-into-effect","status":"publish","type":"post","link":"https:\/\/new.thepinetree.net\/?p=162201","title":{"rendered":"Nation\u2019s First Gas &#8220;Price Gouging Law&#8221;, Requiring Daily Reporting Goes Into Effect"},"content":{"rendered":"<p>Sacramento, CA&#8230;California\u2019s new law to combat price gouging at the pump takes effect today. Governor Gavin Newsom signed the first-in-the-nation law <a href=\"https:\/\/mclist.us7.list-manage.com\/track\/click?u=afffa58af0d1d42fee9a20e55&amp;id=25d3be2d00&amp;e=0b26ba1b5c\">earlier this year<\/a>\u00a0after calling for a special session of the Legislature to hold Big Oil accountable for fleecing California families at the gas pump. California\u2019s law is a model for the nation: a\u00a0<a href=\"https:\/\/mclist.us7.list-manage.com\/track\/click?u=afffa58af0d1d42fee9a20e55&amp;id=06b3741af9&amp;e=0b26ba1b5c\">recent national poll<\/a>\u00a0found that 89% of Americans support efforts to crack down on gas price gouging.<\/p>\n<p><a href=\"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/06\/CostPerGallon.webp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-162202\" src=\"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/06\/CostPerGallon.webp\" alt=\"\" width=\"640\" height=\"360\" srcset=\"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/06\/CostPerGallon.webp 1080w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/06\/CostPerGallon-300x169.webp 300w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/06\/CostPerGallon-1024x576.webp 1024w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/06\/CostPerGallon-768x432.webp 768w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/06\/CostPerGallon-123x70.webp 123w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/06\/CostPerGallon-570x320.webp 570w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/06\/CostPerGallon-701x394.webp 701w, https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/06\/CostPerGallon-1067x600.webp 1067w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<p><a class=\"\" href=\"https:\/\/mclist.us7.list-manage.com\/track\/click?u=afffa58af0d1d42fee9a20e55&amp;id=f6a050d304&amp;e=0b26ba1b5c\"><em>Watch the Governor\u2019s new video on California\u2019s price gouging law here.<\/em><\/a><\/p>\n<p>Starting today, the new law:<\/p>\n<ul>\n<li aria-level=\"1\"><strong>Exposes price manipulation in real time<\/strong>\u00a0by requiring daily reports on the market and imports<\/li>\n<li aria-level=\"1\"><strong>Helps prevent gas price spikes<\/strong>\u00a0caused when refineries go offline by requiring refineries to report maintenance schedules in advance and unplanned maintenance in real-time<\/li>\n<li aria-level=\"1\"><strong>Increases accountability\u00a0<\/strong>by getting monthly reports on refiners\u2019 profit margins<\/li>\n<li aria-level=\"1\"><strong>Establishes a new independent watchdog<\/strong>, the Division of Petroleum Market Oversight, within the California Energy Commission, to monitor the industry<\/li>\n<\/ul>\n<p><strong>What Governor Newsom said:<\/strong>\u00a0\u201cCalifornia is delivering on our promise to hold Big Oil accountable. These new transparency laws will help us track refiners\u2019 profits and shine a light on price manipulation so Californians aren\u2019t vulnerable to the greedy whims of Big Oil. And this is just the start \u2013 we\u2019re standing up the nation\u2019s first Big Oil watchdog to monitor the industry 24\/7, rooting out illegal price gouging in real-time to help you keep money in your pocket.\u201d<\/p>\n<p><strong>Compared to 2022,<\/strong>\u00a0California\u2019s gas prices have been substantially lower and less volatile. The Governor\u2019s actions have helped lead to a decrease of $1.50\u00a0per gallon, year over year.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>HOW IT WORKS:\u00a0<\/strong>Working with Senator Nancy Skinner and the Legislature to pass SBx1-2, this new law creates the Division of Petroleum Market Oversight, a dedicated state 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 new division will closely monitor the industry on a daily basis to identify unethical or illegal behavior, and will refer any violation of law \u2013 including industry misconduct or market manipulation \u2013 to the Attorney General for prosecution.<\/p>\n<p>These nation-leading transparency measures go into effect today as California works to stand up the independent watchdog office.<\/p>\n<p><strong>CONTEXT:<\/strong>\u00a0This new law is the latest instance in which the Governor has successfully taken on the historically powerful oil industry for putting profits over people. Last year, Governor Newsom signed\u00a0<a href=\"https:\/\/mclist.us7.list-manage.com\/track\/click?u=afffa58af0d1d42fee9a20e55&amp;id=6a848d56a5&amp;e=0b26ba1b5c\">legislation 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=d9c9a453ba&amp;e=0b26ba1b5c\">law protecting neighborhoods and schools<\/a>\u00a0from oil drilling.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sacramento, CA&#8230;California\u2019s new law to combat price gouging at the pump takes effect today. Governor Gavin Newsom signed the first-in-the-nation law earlier this year\u00a0after calling for a special session of the Legislature to hold Big Oil accountable for fleecing California families at the gas pump. California\u2019s law is a model for the nation: a\u00a0recent national [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":162202,"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-162201","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\/06\/CostPerGallon.webp","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/162201","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=162201"}],"version-history":[{"count":1,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/162201\/revisions"}],"predecessor-version":[{"id":162203,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/162201\/revisions\/162203"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/media\/162202"}],"wp:attachment":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=162201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=162201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=162201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}