The Office of Governor Gavin Newsom released the following today in claiming big oil is lying.
This comes after a December 6 announcement where Governor Gavin Newsom and Senator Nancy Skinner (D-Berkeley) t unveiled a proposed price gouging penalty on oil companies’ excess profits to deter excessive price increases and keep money in Californians’ pockets–this was in response to unexplained gas price hikes that led to record profits for Big Oil. The language of the proposed price gouging penalty can be found here.
Here is what was released Thursday:
Big Oil’s Top Lies
What you need to know: Big Oil is lying to Californians about Governor Newsom’s gas price gouging penalty.
Earlier this month, Governor Gavin Newsom convened a special session of the Legislature to hold Big Oil accountable for fleecing Californians at the pump while making record profits. See the Governor’s proposed price gouging penalty here.
The industry is already pushing the same lies they’ve used for decades to protect their profits. Get the facts below.
MYTH: This is just another gas tax that Californians can’t afford.
FACT: Californians won’t pay a cent. It is not a tax. The penalty is on Big Oil’s excess profits and funds collected from it will go to Californians.
MYTH: California’s gas tax and fees are the reason for high gas prices.
FACT: State taxes and fees didn’t change as gas prices increased to record levels this year.
MYTH: Suspending California’s gas tax is the best way to bring prices down.
FACT: Suspending the gas tax would benefit Big Oil – there’s no way to ensure they pass down savings to Californians, just like they didn’t in Florida.
MYTH: The price gouging penalty does nothing to reduce the price of gas.
FACT: The penalty is designed to prevent future gas price spikes by discouraging Big Oil from charging excessive profits, saving Californians money.
MYTH: This will further restrict supply and potentially lead to shortages.
FACT: This proposal targets oil refiners’ excess profits from price gouging, not the supply of gas or refining production.
2 comments
Having seen the ineptitude of California’s politicians repeatedly demonstrated, I expect that this will work as well as their recent “Middle Class Tax Refund” debit card fiasco.
Post California’s policies that are different from other states. Let’s see what our state imposes on oil companies here in the state.
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