LIVE | Gov. Newsom is signing a new law that could punish oil refiners over high gas prices

[livingston]

LIVE | Gov. Newsom is signing a new law that could punish oil refiners over high gas prices​

 

[Saltwater60]

Because this will stand? How is this legal. Our government is so screwed up.

 

[GOPerfect]

I hope all of the producers of gasoline refuse to ship gas to his State.

 

[Grimscale]

So the price of gas is set by market pressures and .gov taxes.
Market is set by .gov.
Taxes are set by .gov

Looks like Newsom is the one that is about to be punished.

 

[spat]

I hope all of the producers of gasoline refuse to ship gas to his State.

Nah, they'll just mark the price up to cover the cost of the "fine".

 

[OwnTheRide]

I hope all of the producers of gasoline refuse to ship gas to his State.

Believe it or not, California is the #3 state in oil refinery capacity (about 1/3rd the number of refineries of Texas, but nearly tied for second place with Louisiana).

My point here is that retaliation is unlikely because California holds a lot of sway over the refining industry.

 

[Saltwater60]

Believe it or not, California is the #3 state in oil refinery capacity (about 1/3rd the number of refineries of Texas, but nearly tied for second place with Louisiana).

My point here is that retaliation is unlikely because California holds a lot of sway over the refining industry.

If I were the oil companies I would say you want to fine me no problem and I will cease sales to CA until the reduction in demand causes the price to drop to where I will not be fined for selling gas in CA. Does that work for Newsome?

 

[tgenec86]

Slow, steady progression to declared Socialism.

 

[OwnTheRide]

If I were the oil companies I would say you want to fine me no problem and I will cease sales to CA until the reduction in demand causes the price to drop to where I will not be fined for selling gas in CA. Does that work for Newsome?

Right, but then Newsom pushes through a law that requires refineries in the state to first supply the state, or imposes punitive regulations, etc etc.

I totally agree that companies need to start playing hardball with these liberal idiots. Just pointing out that I get why they don't - doing so is generally not in the best interests of shareholders.

 

[spat]

Right, but then Newsom pushes through a law that requires refineries in the state to first supply the state, or imposes punitive regulations, etc etc.

I totally agree that companies need to start playing hardball with these liberal idiots. Just pointing out that I get why they don't - doing so is generally not in the best interests of shareholders.

Sure, we'll sell to CA. Oh, you have a $0.50 per gallon fine for us charging too much ? Well, we'll charge what we want plus $0.50 then and just pass the fine along to the consumer.

Go ahead, make the fine as high as you want.

 

[Jmac00]

Right, but then Newsom pushes through a law that requires refineries in the state to first supply the state, or imposes punitive regulations, etc etc.

I totally agree that companies need to start playing hardball with these liberal idiots. Just pointing out that I get why they don't - doing so is generally not in the best interests of shareholders.

LOL, **BIG OIL REFINERY**

Dear Employees.
As you know the state of California has hit us with some kinda fine for the price of oil. So here is what we will do. Starting next monday, all employees from the CEO to the floor sweepers will be given a 30 day paid furlough. Take the family on vacation, in another state. Go have some fun.
We will begin the shut down on Thursday.

All our love, have fun. Your Management team ~~~warning, be back to work in thirty days, or your fired. LOVE