California legislators opened a special session Monday to explore the possibility of levying penalties on the oil industry for what Democratic Gov. Gavin Newsom has called price-gouging of consumers
California legislators opened a special session Monday to explore the possibility of levyingfor what Democratic Gov. Gavin Newsom has called price-gouging of consumers.
Speaking to reporters in Sacramento Monday, Mr. Newsom said the proposal’s main goal was to deter oil companies from setting artificially high prices. “I hope we never have to go there because I hope the oil companies change their ways,” he said. “If they don’t, I expect every cent to go back into the pockets of people being screwed by oil companies.”
The Democratic leaders of the state Assembly and Senate have said they didn’t expect to debate the matter until January, when the legislature reconvenes for regular session. “Having not heard much details from the governor up to this point, I guess it’s not surprising we get a legislation that has so many holes in it,” he said.
Mr. Newsom, who has pushed California toward some of the most aggressive climate policies in the nation, has been critical of oil companies for months. Speaking at the Clinton Global Initiative in September, he criticized members of his own state party as “wholly owned subsidiaries of the fossil fuel industry.”
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