Tax
Mar. 21, 2023
Newsom, Legislature agree on penalty, watchdog for oil companies
Kevin Slagle, a spokesman for the Western States Petroleum Association, criticized the governor’s efforts Monday as damaging to consumers, creating a new tax that will hike prices rather than lower them.
Gov. Gavin Newsom and the Legislature agreed Monday on a proposed bill to monitor petroleum companies through an independent watchdog within the California Energy Commission.
The proposed bill, SB-2, is the product of a special session Newsom convened in December to address price gouging concerns including imposing a penalty on oil companies that “exceed the maximum gross gasoline refining margin” to be set by the commission.
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