Newsom unveils price-gouging penalty aimed at oil companies

Contributing sentiments towards policy:

58% : Since then, oil companies reported billions of dollars in profits.
56% : But the big question is how the measure will be received by California lawmakers, especially because the oil industry is one of the state's top lobbyists and campaign donors.
48% : She noted the oil industry spent the money as "independent expenditures," meaning she had no control over that spending during the campaign.
44% : The oil industry spent hundreds of thousands of dollars on radio and TV ads supporting Ashby's campaign, a trend noticed by critics who tried to use it against her.
41% : The proposed price gouging penalty on excess profits made by oil companies was presented by Newsom and State Senator Nancy Skinner (D-Berkeley).
38% : Catherine Reheis-Boyd, president of the Western States Petroleum Association, said the oil industry is volatile, pointing to billions of dollars in losses during the pandemic when demand for gasoline dropped sharply as many people worked from home and canceled travel plans.
30% : Lawmakers ostensibly returned to the state Capitol Monday to swear in new members and elect leaders for the 2023 legislative session, but Newsom is also looking to rally support to get the penalty approved so oil companies will be forced to return money to drivers when their profits pass a certain threshold.
30% :Republican leaders have already come out against Newsom's proposal, arguing penalizing oil companies would only raise prices at the pump.
27% : SACRAMENTO -- Governor Gavin Newsom on Monday unveiled a proposed penalty aimed at deterring oil companies from excessive gas price increases as the state legislature gathered for a special session.
25% : Ashby said she hasn't been approached by lobbyists or others from the oil industry asking how she would vote on a potential penalty for oil companies.

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