‘Sick and tired’ of high gas prices,
California seeks to punish oil companies
with new penalty
Sacramento Bee [CA],
by
Maggie Angst
&
Lindsey Holden
Original Article
Posted By: NorthernDog,
12/5/2022 11:32:39 PM
California lawmakers on Monday introduced legislation to penalize oil companies for alleged price gouging, setting up a showdown with an industry that has long wielded political influence in the Golden State. At the urging of Gov. Gavin Newsom, California Senate Budget Chair Nancy Skinner, D-Berkeley, proposed a new bill that would levy a penalty on oil companies when their profits exceeded a legally-established threshold. The money raised by the penalty would then be placed in a fund that would be directed back to taxpayers in the form of rebates. But the initial bill language is vague, failing to define the
Reply 1 - Posted by:
Proud Texan 12/5/2022 11:55:26 PM (No. 1349971)
I'm with you NorthernDog. Oil companies rate of return on investment is far below the Big Tech Kalifornia loves so much. Let Oil companies make the same rate of return as Big Tech and listen to the little piggies squeal then.
23 people like this.
Reply 2 - Posted by:
49 Ford 12/6/2022 12:05:40 AM (No. 1349975)
Too stupid for words.
32 people like this.
Reply 3 - Posted by:
Nashman 12/6/2022 12:06:18 AM (No. 1349977)
Chevron has already left California. Be pretty fun if all the others stopped selling gas there.
25 people like this.
Reply 4 - Posted by:
Californian 12/6/2022 12:21:30 AM (No. 1349983)
I escaped! I escaped! I got away!
For you non Californians, everything you read is true and there's tons more going on there you never hear about. It's far crazier than the headlines depict. Never been happier since I got out earlier this year.
28 people like this.
Reply 5 - Posted by:
Catherine 12/6/2022 12:26:13 AM (No. 1349986)
Could we legally throw California out of the union? They and New York and possibly Oregon are dragging us down. They should become their own stupid country and leave us alone.
11 people like this.
Reply 6 - Posted by:
GoodDeal 12/6/2022 1:11:39 AM (No. 1350007)
What a bunch of bullcrap. Oil is a global commodity. When Biden shut down our domestic production the price of oil world wide has gone up tremendously. Oil companies are at the mercy of global costs. They are the ones being gouged and we are paying for it at the pump.
12 people like this.
Reply 7 - Posted by:
Sandpiper 12/6/2022 3:46:50 AM (No. 1350021)
I get it Number 4! I am a fellow escapee from Cali-land! I’m native born and you’d think I’d miss my old state but I don’t! It got SO BAD. I keep pinching myself - I feel so lucky to have gotten out! I so love the conservative county where I landed.
10 people like this.
Reply 8 - Posted by:
mifla 12/6/2022 3:52:48 AM (No. 1350024)
California obviously does not understand the economic concept of supply and demand.
20 people like this.
Reply 9 - Posted by:
PostAway 12/6/2022 5:26:03 AM (No. 1350049)
This is a cynical attempt by a greaser with an inferiority complex and presidential ambitions to look tough on profitable businesses to benefit the commo-environmentalists AKA elitissimos or the CCP. Newsom is not so much punishing oil companies as he is providing more money to the Chinese communists and his own presidential ambitions. Citizens will see as much of their money benefit the needs of Californians as old people see when they pay the Nigerian prince.
6 people like this.
Reply 10 - Posted by:
BeatleJeff 12/6/2022 6:48:30 AM (No. 1350090)
Yeah, a penalty which will just get passed on to consumers in the form of higher prices. What morons!
10 people like this.
Reply 11 - Posted by:
LanceLink1 12/6/2022 7:04:20 AM (No. 1350099)
Freedom and liberty via price controls, regulations, restrictions and mandates.
4 people like this.
Reply 12 - Posted by:
philsner 12/6/2022 7:38:46 AM (No. 1350120)
"We are so tired of high gas prices, we are going to make them even higher!"
12 people like this.
#8 correct, basic economics escape them. Hence why they think socialism works.
Envy is also the base emotion of the average democrat. Followed by a desire for hedonism and freedom from personal responsibility.
Basically, take the 10 commandments, and flip every mitzvah and you have the Democrat plank.
7 people like this.
Reply 14 - Posted by:
Bur Oak 12/6/2022 8:06:20 AM (No. 1350138)
Meanwhile the state of California rakes in record amounts of taxes. In 2021, $248,190,000,000 compared to runner up New York state $93,500,000,000. If the bureaucrats and politicians really want to help Californians they only have to cut taxes.
5 people like this.
Reply 15 - Posted by:
CivilServant 12/6/2022 8:47:40 AM (No. 1350162)
Oh good!!!!! So, let the companies sell to the limit and then in the entire state of California STOP SELLING GAS UNTIL THE NEXT FISCAL YEAR.
And to anyone who tells me about all the good conservative residents who will be harmed, I say it is high time for them to either move, or revolt.
2 people like this.
Reply 16 - Posted by:
Venturer 12/6/2022 10:00:16 AM (No. 1350228)
Car Manufacturers and the oil companies, and the electricity suppliers should just tell California to fend for themselves.
1 person likes this.
Reply 17 - Posted by:
formerNYer 12/6/2022 11:07:10 AM (No. 1350290)
If I was President of an oil company I would close every one of my gas stations in Commiefornia.
2 people like this.
Reply 18 - Posted by:
joew9 12/6/2022 11:44:24 AM (No. 1350321)
If they have a limit on profits shouldn't they also put a limit on losses? Oil companies frequently have large losses and only make up for them when profits are good.
2 people like this.
Reply 19 - Posted by:
MickTurn 12/6/2022 11:58:42 AM (No. 1350341)
Any state that is producing oil or natural gas should NOT SELL it to any Leftist run State, PERIOD...You're ON YOUR OWN for electing these Commies!
0 people like this.
Reply 20 - Posted by:
DVC 12/6/2022 4:05:39 PM (No. 1350550)
New government action which will FURTHER increase oil and fuel prices.
0 people like this.
Reply 21 - Posted by:
Hazymac 12/6/2022 5:06:21 PM (No. 1350588)
I'm completely with Big Oil aka the Seven Sisters. California's troubles are all self-inflicted. Politicians caused just about all of the Golden State's troubles.
0 people like this.
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Maybe the oil companies will just pack up and move away instead of putting up with this liberal garbage.