Governor Newsom Announces Plan to Prevent Big Oil 'profit Spikes' & Save Californians Money at the Pump
August 16, 2024
August 16, 2024
SACRAMENTO, California, Aug. 16 -- Gov. Gavin Newsom, D-California, issued the following news release on Aug. 15, 2024:
* * *
What you need to know: Price spikes on consumers are profit spikes for oil companies, and they're overwhelmingly caused by refiners not backfilling supplies when they go down for maintenance. This first-in-the-nation proposal would require refiners to maintain minimum supply inventories, which would help prevent price spikes and save Califor . . .
* * *
What you need to know: Price spikes on consumers are profit spikes for oil companies, and they're overwhelmingly caused by refiners not backfilling supplies when they go down for maintenance. This first-in-the-nation proposal would require refiners to maintain minimum supply inventories, which would help prevent price spikes and save Califor . . .