Le Lézard
Classified in: Oil industry
Subject: AVO

New Minimum Gasoline Reserve Law Will Prevent CA Gasoline Prices Spikes And Should Be A Bellwether For Nation, Consumer Watchdog Says


SACRAMENTO, Calif., Oct. 14, 2024 /PRNewswire/ -- Consumer Watchdog hailed Governor Newsom's signing today of California's new gasoline minimum inventory law, ABX2-1, as a pivotal moment in the fight against California gas spikes and called on other states to follow suit with similar laws.

"The single most important thing California can do to prevent gasoline price spikes is to require adequate inventories when refineries go into periods of maintenance," said Consumer Watchdog president Jamie Court. "Governor Newsom rightly called a special session to make sure this critical protection for consumers takes effect in 2025, not 2026. Other states that want to protect against refiner profiteering, like Washington, would be well advised to adopt the same protections. The legislature answered the Governor's call over the objections of Chevron and the other three big refiners that make 90% of California's gasoline and sent a signal that California won't fall for the same old games that have plagued the state with price spikes for two decades. The problem has been well established since the time of the 2000 Attorney General Gas Pricing Taskforce but this is the first time any Governor has taken on the big oil refiners to make them play fair. Governor Newsom is to be congratulated for breaking through the taboo in Sacramento that you can't beat Big Oil. Other states should be encouraged to follow in California's footsteps."

Read more about how ABX2-1 can save Californians $1 billion or more per year and the fight for its passage.

SOURCE Consumer Watchdog


These press releases may also interest you

at 12:15
The Government of Canada is supporting Canadian utilities and system operators that are integrating clean energy solutions to meet the demands of increased electrification at the least cost to ratepayers. These measures are enabling economically and...

at 12:00
Trillium Flow Technologies ("Trillium"), a global designer, manufacturer, and aftermarket services provider of highly engineered valves and pumps used in critical infrastructure, today announced the appointment of Doug Kitani as Chief Executive...

at 10:35
Core Group Resources, a leader in helping clients drive sustainable business growth through identifying, hiring, and growing the right talent, announced today a new paper that provides insights into the trends impacting recruiting professionals,...

at 10:12
ClearSign...

at 10:00
Blue Tide Environmental ("Blue Tide" or the "Company"), an environmental company focused on developing a network of used motor oil ("UMO") recycling facilities across North America, today announced the appointment of Terence ("Terry") McHugh as Chief...

at 10:00
AtkinsRéalis, a world-class engineering services and nuclear company with offices around the world, welcomes Nu-Tech Precision Metals Inc. as a new ambassador in support of the Canadians for CANDU campaign....



News published on and distributed by: