Democrats stopped SB 950 in California, a reckless bill Newsom wanted which would create new crippling requirements, forcing refineries to maintain high supplies of gasoline reserves. It requires mandatory refinery surpluses and creates structural problems for refineries. It will raise the price of gas.
Newsom has pushed the most stringent environmental regulations to promote his career. For example, by 2035, you won’t be able to buy a new gasoline-powered car in California. San Francisco’s Kamala Harris has the same views as Newsom.
The governor’s plan, introduced as SB 950 just days before the end of the legislative session, would require refiners to withhold fuel inventory from the market to serve as a cushion against price spikes. However, the California Energy Commission warned “it may artificially create shortages in downstream markets” and “increase average prices for refiners to maintain additional storage.”
“If Newsom wants to jam this reckless plan through the Legislature at the last minute, he should level with Californians about just how much this will increase costs for drivers,” said Assembly Republican Leader James Gallagher (Yuba City). “Democrats have already given Californians some of the most expensive gas in the country. Newsom is insane if he thinks we’ll stand by as he tries to make things even worse.” […]
— Read More: www.independentsentinel.com
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