Opinion: Third time possibly the charm for Newsom’s campaign to limit oil profits
Will the third time be the charm for Gov. Gavin Newsom’s crusade against California gasoline refiners for what he alleges have been unjustified price spikes in recent months?
“Together with the Legislature, we’re going to hold Big Oil accountable for ripping off Californians at the pump,” Newsom said in a statement. “Today’s agreement represents a major milestone in our efforts to drive the oil industry out of the shadows and ensure they play by the rules.” The ambitious enactment is clearly aimed at giving the oil industry as little time as possible to lobby legislators. Its leaders, and business groups such as the California Chamber of Commerce, have labeled the proposed penalties as an indirect tax that will inevitably passed on to consumers.
The oil industry, through the Western States Petroleum Association, is the largest single spender on lobbying the Legislature, exhausting $7.3 million in 2022. The association is also a major campaign contributor, and in alliance with unions representing field and refinery workers, has gained a significant toehold among the Legislature’s dominant Democrats.
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