New California gas price law another defeat for oil industry

Contributing sentiments towards policy:

72% : ""Oil has built the American economy, built the industrial economy, I get it," Newsom said.
53% : The bill also creates a new state agency with the power to monitor the petroleum markets, including requiring oil companies to disclose lots of data about their pricing.
47% : "Oil production has been steadily declining since the late 1980s from a combination of exhausting supplies and the state's changing policy priorities.
43% : "The broader business community is going to have to go to the voters on some issues of public policy.
37% : They argued oil companies would not pass along the savings to drivers.
36% : State regulators have banned the sale of most new gas-powered cars in California by 2035.
35% : Yet on Tuesday, Newsom signed a new law that gives state regulators the power to penalize oil companies for making too much money, the first of its kind in the country.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.