California’s Bill To Penalize Oil Firms For Excess Profits Has Stalled ...Middle East

OILPRICE - Economy
California’s Bill To Penalize Oil Firms For Excess Profits Has Stalled
source : OILPRICE ( Middle East ) () 17
A proposed bill in California to introduce penalties on the excess profits of oil companies is not making advances in the state legislature and even some Democrats are questioning its implementation and the possible benefits for consumers.    Last year, as gasoline prices hit records in the United States, and were much higher in California than in other states, Governor Gavin Newsom started calling for a windfall tax on oil companies that would go directly back to California taxpayers, who, the governor says, are getting ripped off by…

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