New blood, Big Oil: California Legislature starts special session

Posted on AllSides December 7th, 2022
From The Center
Martin do Nascimento, CalMatters

California regulators would cap the profit margin for oil refiners and could fine companies that exceed that limit under a proposal announced Monday by Gov. Gavin Newsom, the latest escalation in his battle with the oil industry over a summer of record gas prices.

Newsom unveiled the measure, which does not yet include key details such as how much profit oil refiners would be allowed or the size of possible fines, on the same day that newly-elected legislators arrived in Sacramento to be sworn in — and to declare a special session...

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