Whenever gas prices increase in California, and they continually do, Gov. Gavin Newsom blames price gouging. Even the LA Times says there is no evidence of that. The fragile supply is a direct result of the policies of the far-left Democratic government.
The supply is about to get worse.
Originally, Democrats stopped SB 950 in California, a reckless bill Newsom wanted which would create new crippling requirements, forcing refineries to maintain high supplies of gasoline reserves. It requires mandatory refinery surpluses and creates structural problems for refineries. It will raise the price of gas.
Newsom has pushed the most stringent environmental regulations to promote his career. For example, by 2035, you wonโt be able to buy a new gasoline-powered car in California. San Franciscoโs Kamala Harris has the same views as Newsom.
The governorโs plan, introduced as SB 950 just days before the end of the legislative session, would require refiners to withhold fuel inventory from the market to serve as a cushion against price spikes. However, the California Energy Commission warned โit may artificially create shortages in downstream marketsโ and โincrease average prices for refiners to maintain additional storage.โ
Unfortunately, Democrats didnโt vote in large numbers, and the bill just passed 41-16.
As a result, Phillips 66 Refinery will leave California over this bill, but that’s likely what Newsom wants.
If rolling brownouts don’t convince the people to stop voting for this lunatic, then we can only assumeย itโs what they want.
If companies donโt follow the new costly regulations, they will be fined $1 million daily.
Newsom claims it will hold Big Oil accountable. In actuality, it will lead to gas shortages and price hikes.
Big Oil โhas been screwing you for decades,โ Newsom said.
โPrice spikes have cost Californians billions of dollars over the years, and weโre not waiting for the industry to do the right thing,โ Newsom said.
Heโs not that stupid. Heโs just a liar.
He signed the bill mandating a minimum fuel inventory, which will require higher costs that will be passed down to the consumer, who already pays $7 a gallon.
AS PREDICTED: Just DAYS after Californiaโs incompetent governor @GavinNewsom signed legislation imposing draconian mandates on oil refineries to โreduce gas pricesโ, a major LA refinery announced itโs shutting down.
The first of many. And was already WRITTEN as part ofโฆ https://t.co/nDDz9z9aOp pic.twitter.com/Picxjxcgki
โ Houman David Hemmati, MD, PhD (@houmanhemmati) October 16, 2024
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