Newsom unveils price-gouging penalty aimed at oil companies

Team coverage of Gov. Newsom's new plan to prevent oil companies from gouging gas consumers, including an interview with UC Berkeley Professor Severin Borenstein (12-5-2022)

[lynnrichardson]

Focusing on everything but the additional 3% tax on fuel which he placed in June of 2022.
The taxes are also a factor !

[rogerehinger]

How about a cap on fuel taxes, California has the highest gasoline taxes in the nation. The blame falls on California's legislators, and the people who elect them.

[youtubeshowusthedislikecou]

Venezuela did the same back in 2002. See how that works out for them.

[cynthiaparris]

Somebody needs to be checking on some of these grocery stores most definitely. I know things have went up but I really think so many of them are price gouging big time. It's ridiculous.

[therealcnn]

I love that the wind turbines behind this guy aren’t spinning 🤣

[NotSoRemoteAlaska]

What are you going to do when the oil companies leave the state there is nothing making them stay.

[brentwarner]

Take a hike governor, I never even got my gas tax relief 😂

[jriv]

Never forget Newsom along with the Democrat State Assembly members are the ones who have been passing the annual gas tax 😂🤡

[cathleenhamby]

Gavin is doing, and has never done, anything for hard-working Californians! Taxes are too high and tthose of us paying those taxes are being hurt the most!

[muskepticsometimes]

Gas prices really high in CA, not in other states.

Why ?

[robertjordan]

Yeah remember they did that to the cigarette companies and a pack of cigarettes went from $1.67 to what is it now $9

[arthureaks]

Gasoline is a high-visibility problem, but not the only one. What about food? I spent $5/pound for generic butter last week, a clear $2 jump from the month before—and coincidentally right around a major holiday (I live in Indiana—not exactly a regulation-heavy state). If it’s a supply chain problem, why are grocery chains making record profits. There have been 2-3 major jumps in Social Security and I’m eating worse than ever!

[propblastnd]

Oil companies should just leave California.

[ab]

Lol a profit cap. Genius plan guys! Definitely airtight! Rock solid! I am shocked no one thought of that before! Dang… how did CA get so smart?!

[rockscar]

Oil corps:
Find oil
Jump through gov hoops
Drill oil
Pump oil
Refine oil into gas & diesel
Ship oil to market
Minimal profit margins

Government:
Sit on ass
Lift hand to use pen

Taxes per gallon LARGER than profits per gallon

Mark-cysts, like all cysts… require lancing to save the patient

[RealYoutube]

Bay Area you deserve the high gas prices.

[WakeyUpU]

Well that’s rich if he wants to see the true price gouger he should take a look in the mirror!

[mmi]

Gavin just wants to look good for running for the presidential election

[bjung]

What about politicians kicking the problems down the road and lining their pockets with kickbacks?

[Rich-yjub]

Not only gas but food as well & Utility companies.