California measure would give state price-cap power
<p class="source">Platts Oilgram News</p>
<p>"The continued failure of California officials to compel refiners to create more refining capacity and increase inventories will result in gasoline prices rising to $4 per gallon relatively soon," stated Tim Hamilton, an analyst for the Foundation for Taxpayer and Consumer Rights in Santa Monica. "The system is rigged for price spikes and the refiners know it."</p>
