“Whether it’s price gouging at the pump or drilling in people’s backyards, Big Oil’s days of harming our health and our pocketbooks must end,” said one advocate.
By Brett Wilkins. Published 3-28-2023 by Common Dreams
Climate and consumer advocates on Tuesday hailed California lawmakers’ passage of legislation aimed at tackling Big Oil price gouging as the proposal headed to the desk of Democratic Gov. Gavin Newsom, who said he will sign the measure into law.
The California Assembly voted 52-19 on Monday in favor of S.B. X1-2—authored by state Sen. Nancy Skinner (D-9)—which will empower the California Energy Commission (CEC) to impose profit caps and penalties on refiners and create an intra-agency watchdog tasked with conducting greater oversight of fossil fuel companies to minimize profiteering. Continue reading