After gas prices in California spiked to more than $6.40 per gallon last summer, Gov. Gavin Newsom led a charge against an industry he says is “ripping you off." Months later, it's not clear if California's Legislature is following him.
Newsom, a Democrat, called lawmakers into a rare special session in December to pass what would be the nation's first penalty on excessive oil company profits. But the bill is still sitting in the Democratic-controlled Legislature three months later, with no details on how much the penalty would be or when oil companies would have to pay it.
The bill is still sitting in the Democratic-controlled Legislature three months later, with no details on how much the penalty would be or when oil companies would have to pay it.