High gas prices prompt California lawmakers to consider penalties on oil profits
SACRAMENTO, Calif. — A new class of California lawmakers will be sworn in Monday and thrust into the middle of Gov. Gavin Newsom's political fight with oil companies, testing the clout of an industry that spends heavily to influence the Legislature and potentially affecting gas prices for Californians.
The Democratic governor has accused the oil industry of intentionally "price gouging" consumers at the pump as retribution for the state's policies to phase out dependence on fossil fuels in an effort to curb climate change. The petroleum industry argues the consequences of those policies and the state's dependence on a small number of oil refineries drives up gasoline costs.
In response to gas price spikes this year, the governor pledged to back bills to place new monetary penalties on excessive oil company profits in a special legislative session.
The stakes are particularly high for lawmakers. The Legislature opens the special session Monday, the same day lawmakers are sworn into
