California motorists already pay the highest gas taxes in the US and on November 29th the California Energy Commission (CEC) will host an informational hearing to discuss a new tax that will indirectly increase the cost of gas.
On November 29, 2022, the CEC conducted a hearing ordered by the Governor to examine
California's fuel costs. The Governor’s primary objective for this hearing was to build support for his
new gas tax proposal. Fortunately, what the CEC presented resulted in a robust discussion with industry participation on the
policy, market and regulatory factors that contribute to fuel and energy costs in California.
December 7, 2022
By Dan Walters
Originally, California Gov. Gavin Newsom called for a tax on excess profits on gasoline sales, but now terms it a penalty, which would make it easier to win legislative approval.
Capitol Matrix Consulting
On September 30, 2022, Governor Newsom called for a windfall profits tax on oil and gas (O&G) companies, stating that “crude oil prices are down but oil and gas companies have jacked up prices at the pump in California. This doesn’t add up…We’re not going to stand by while greedy oil companies fleece Californians. Instead, I’m calling for a windfall tax to ensure excess oil profits go back to help millions of Californians who are getting ripped off.”
November 3, 2022
Los Angeles Times
By Gregory Brew
After a summer with some historic gasoline price increases, California continues to experience the highest gas prices in the country by a considerable margin. California’s prices are partly the result of geographic accident, with the West Coast distant from oil production and refining facilities in other states.
October 26, 2022
By Grace Gedye
Here are the basics of the new windfall profit tax Gov. Gavin Newsom proposed, and how similar taxes have worked in the past.
October 22, 2022
The Orange County Register
By Steven Greenhut
SACRAMENTO – It was arguably the most politically disastrous speech from a president in the nation’s history. Against a backdrop of quarter-mile-long lines at gas stations, soaring inflation and nationwide strikes by independent truckers disgruntled by fuel prices and energy regulations, President Jimmy Carter gave what historians call his “national malaise” address.