{"id":2255774,"date":"2024-05-30T13:08:02","date_gmt":"2024-05-30T17:08:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/californias-gas-price-gouging-law-will-backfire-critics-warn\/"},"modified":"2024-05-30T13:12:38","modified_gmt":"2024-05-30T17:12:38","slug":"californias-gas-price-gouging-law-will-backfire-critics-warn","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/californias-gas-price-gouging-law-will-backfire-critics-warn\/","title":{"rendered":"Critics Warn: California&#8217;s Gas Price Gouging Law Could Have Negative Consequences"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcalifornias-gas-price-gouging-law-will-backfire-critics-warn%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2255774&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Critics warn that California&#8217;s new gas price gouging law could drive pump prices higher \u200cfor average\u2062 Americans and potentially limit the state&#8217;s energy supply. \u200cGas prices in California have surged past $5 a gallon, attributed mainly to high \u200btaxes and industry regulations. Governor Newsom blames\u2062 oil companies for expensive gas and\u200d aims to control their profits, but critics fear this will \u200cburden refineries and raise prices further. Newsom also signed an anti-price gouging law to\u200b monitor oil companies\u200b closely and prevent manipulation. The California Energy \u200cCommission \u2063is contemplating penalties for gas producers profiting excessively, with\u2064 ongoing\u200b investigations into possible price gouging.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p>California\u2019s new gasoline price gouging law will end up raising prices at the pump for everyday Americans and could even limit the state\u2019s energy supply, critics say.<\/p>\n<p>Gas prices in California have already <a href=\"https:\/\/www.barrons.com\/amp\/articles\/gasoline-prices-california-profits-cap-73601fa6\" target=\"_blank\" rel=\"noopener\">topped<\/a> $5 a gallon this year due, in large part, to the state\u2019s high taxes and tough regulations on the industry.<\/p>\n<p>However, Democratic Governor Gavin Newsom blames his state\u2019s expensive gas on <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/michael-goodwin-joe-biden-has-nothing-to-offer\/\" title=\"Michael Goodwin: Joe Biden Has Nothing to Offer\">greedy oil companies<\/a>.<\/p>\n<p>The governor wants to cap the profits of gasoline producers, but critics worry this will burden California refineries, who will, in turn, pass the costs onto drivers and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gas-expert-prices-will-jump-5-to-10-cents-amid-ukraine-invasion-likely-to-break-4-a-gallon-by-spring\/\" title=\"Gas Expert: Prices Will Jump 5 To 10 Cents Amid Ukraine Invasion, Likely To Break  A Gallon By Spring\">push gas prices<\/a> over $6 a gallon.<\/p>\n<p>Last year, Newsom <a href=\"https:\/\/www.gov.ca.gov\/2023\/06\/26\/nations-first-gas-price-gouging-law-in-effect\/\" target=\"_blank\" rel=\"noopener\">signed<\/a> an anti-price gouging law that establishes an industry watchdog and increases scrutiny on oil companies.<\/p>\n<p>\u201cThese new transparency laws will help us track refiners\u2019 profits and shine a light on price manipulation so Californians aren\u2019t vulnerable to the greedy whims of Big Oil,\u201d Newsom <a href=\"https:\/\/www.gov.ca.gov\/2023\/06\/26\/nations-first-gas-price-gouging-law-in-effect\/\" target=\"_blank\" rel=\"noopener\">said<\/a> last year.<\/p>\n<p>The California Energy Commission is currently considering the proposal to establish a penalty for gas producers who profit too much off of California drivers. Siva Gunda, the commission\u2019s vice president, <a href=\"https:\/\/www.kcra.com\/article\/possible-gas-price-gouging-penalty-in-california-faces-uncertain-future\/60723615\" target=\"_blank\" rel=\"noopener\">said<\/a> the commission has not found any clear evidence of price gouging so far, although he added that oil companies are indeed profiting off of the multiple gas price spikes California has seen in recent years.<\/p>\n<p>\u201cWe are still in the process of evaluation the opinions of the experts we have,\u201d Gunda said. \u201cWhat we understand is there is a divergence of opinion.\u201d<\/p>\n<p>Earlier this month, California state senators <a href=\"https:\/\/www.kcra.com\/article\/possible-gas-price-gouging-penalty-in-california-faces-uncertain-future\/60723615\" target=\"_blank\" rel=\"noopener\">held<\/a> an oversight hearing on the new law.<\/p>\n<p>Industry leaders warn a profits penalty could not only <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republican-candidate-jesse-jensen-blasts-vulnerable-democrat-kim-schriers-rubber-stamp-on-bidens-agenda\/\" title=\"Republican Candidate Jesse Jensen Blasts Vulnerable Democrat Kim Schrier's 'Rubber Stamp' on Biden's Agenda\">raise gas prices<\/a> but even drive gas companies out of the state and curb the state\u2019s oil supply.<\/p>\n<p>\u201cChevron is concerned about the impact a margin cap could have on gasoline supply. An ill-defined and arbitrary maximum margin for refiners will not <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-turns-his-back-on-reporters-refuses-to-answer-questions-on-supply-chain-crisis\/\" title=\"Biden Turns His Back On Reporters, Refuses To Answer Questions On Supply Chain Crisis\">lower gasoline prices<\/a> this summer,\u201d Chevron <a href=\"https:\/\/www.chevron.com\/newsroom\/2024\/q2\/california-regulations-could-cut-supply-raise-gasoline-prices-says-chevron-exec\" target=\"_blank\" rel=\"noopener\">wrote<\/a> in a letter to the state\u2019s energy commission.<\/p>\n<p>Lawmakers on both sides of the aisle have also expressed concerns.<\/p>\n<p>\u201cSome of us come from very disadvantaged communities and they are the ones who bear the brunt of the cost hikes,\u201d said state Senator Susan Rubio, a Democrat from just east of Los Angeles.<\/p>\n<p>Even lawmakers in neighboring states worry their states could feel the effects of California\u2019s gas penalty.<\/p>\n<p>\u201cWe all need each other,\u201d <a href=\"https:\/\/www.kcra.com\/article\/possible-gas-price-gouging-penalty-in-california-faces-uncertain-future\/60723615\" target=\"_blank\" rel=\"noopener\">said<\/a> Arizona state Rep. Justin Wilmeth, a Republican who attended the California oversight hearing this month.<\/p>\n<p>\u201cWe need you for fuel, you need us for electricity, we all have to work together in the west,\u201d Wilmeth said.<\/p>\n<p>The commission is expected to vote on whether to start capping gas profits by the end of the year.<\/p>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Critics caution that California&#8217;s recent gas price gouging law may result in higher pump prices for average citizens and potentially restrict the state&#8217;s energy availability. With gas prices surpassing $5 a gallon this year, the state&#8217;s costly taxes and stringent industry regulations are major contributing factors<\/p>\n","protected":false},"author":107,"featured_media":2255775,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/05\/GettyImages-1399238469.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-2255774","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/05\/GettyImages-1399238469.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2255774","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/107"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2255774"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2255774\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2255775"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2255774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2255774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2255774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}