All through the recent energy crisis, California Governor Gavin Newsom has been beating the same drum. Rather than admitting that the nation’s current energy policies have been an unmitigated disaster or mentioning his state’s massive tax rates, Newsom has been blaming the “greedy oil companies” for making too much money at the expense of consumers who were paying as much as seven dollars per gallon for gasoline earlier this year. It now appears that he plans to “do something” about it. He called a special legislative session this week and wants the state legislature to impose a “cap on oil refinery profits.” This is an unprecedented move by the Governor that is likely to run into a brick wall in the courts, but it’s at least generating some headlines for him I suppose. (LA Times)Read More
Newsom wants a cap on oil refinery profits
