Los Angeles, CA — Consumer Watchdog today applauded Governor Newsom for calling a special session of the legislature to deal with price gouging at the gas pump and endorsing a windfall profits tax.
“Governor Newsom is rightly standing up for Californians who are being taken advantage at the gas pump by a cartel of oil refiners who are making windfall profits at their expense,” said Jamie Court, President of Consumer Watchdog. “Now it’s time for the legislature to answer the Governor’s call with a windfall profits tax that takes back the outrageous profits oil refiners have been making off Californians’ pain at the pump.”
On September 27th, facing a huge delta between California and US gas prices, Consumer Watchdog asked the Governor to call a special legislative session to deal with the issue. The gap with US prices is now $2.60 per gallon.
Yesterday Consumer Watchdog issued a report explaining why California needed a windfall profits tax and how to implement it.
Read the report.
“When oil refiners are making more than $1 per gallon off every gallon sold, it’s time to take back the extra profits and give them back to California drivers,” said Court. “The Governor is taking a strong stand for the people of California and their wallets.”
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