Taxing Oil Refiners’ Profits: How To Get Back What Californians Overpay At the Pump

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Pointing to windfall profits reported by California oil refiners to their investors, Consumer Watchdog issued a report showing that a windfall profits tax is needed to bring California gas prices under control and outlining how to structure the tax.

The report reviews the imposition of windfall taxes on the profits of energy companies in Europe, the U.S.’s experience with windfall taxes on oil, federal legislation recently introduced, and recommends how a tax could be structured on the five biggest CA oil refiners in the state.

Read the report here.

Liza Tucker
Liza Tucker
Liza Tucker is a consumer advocate for Consumer Watchdog, following everything from oil and gas to the regulation of toxic substances in the state of California. She comes to us from Marketplace, the largest U.S. broadcast show on business and economics heard by ten million listeners each week on 400 radio stations. Liza worked at this public radio show for a decade, first as Commentary Editor and then as Senior Editor for both Washington and Sustainability News.

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