Trending...
- Mission 3A Establishes Healthcare Advisory Board with Addition of Industry Leaders Patrick Fisher, Kevin Cordell, and Dr. Greg Berlet
- SSATI Completes Acquisition of Invex Technology Solutions and ITIC Corporation's Government Support Services
- InventHelp Inventor Develops New Therapeutic Aid (RSM-201)
News
Sep 18, 2024
Debunking Big Oil's lies ahead of first special session hearings
What you need to know: The special session on gas price spikes is underway – and the oil industry is working overtime to stand in the way of relief at the pump.
SACRAMENTO – The first hearings of the legislature's special session considering the Governor's proposal to prevent gas price spikes get underway later today.
Last year's special session allowed the state to uncover new evidence that when Big Oil lets supplies run low, they can charge higher prices and earn windfall profits, all while California consumers are left to face the brunt of price spikes at the pump.
When refineries go offline for maintenance but fail to maintain back-up supply, gas prices spike. Last year alone it cost Californians upwards of $2 billion while refiners netted $50 billion in profits.
And the state's new petroleum watchdog issued a consumer advisory last week, warning that refinery maintenance, low inventories, and spot market volatility are driving up California gas prices once again, even as crude oil prices and national gas prices are declining. These are the same market conditions that drove retail gas price spikes in 2022 and 2023.
The Governor's proposal, ABx2-1, authored by Assemblymembers Cecilia Aguiar-Curry and Gregg Hart, allows the state to require oil refiners to manage a minimum inventory of fuel to avoid supply shortages that create higher gas prices for consumers – and higher profits for the industry. It would also authorize the CEC to require refiners to plan for resupply during scheduled refiner maintenance.
As expected, the oil industry is wasting no time to define and distort the Governor's plan. Here are Big Oil's top lies debunked:
California's gas tax and fees are the reason for high gas prices.
FALSE: State taxes and fees are fixed and don't change when gas prices spike.
At the peak of the 2022 and 2023 gas price spikes, Californians were being charged a record $2.61 and $2.25 more per gallon, respectively, than people in other states. California's gas tax and fees added up to less than half of that difference and didn't change during those spikes. Industry couldn't explain where the additional charge came from.
More on The Californer
Suspending California's gas tax is the best way to bring prices down.
FALSE: Suspending the gas tax would give oil companies a huge tax break and more profits. There's no guarantee they'd pass down the savings to people at the pump. Instead, it would amount to a $7 billion annual cut in essential services like schools and health care.
Look at what happened in Florida – they had a gas tax "holiday" (25.3 cents/gallon), and it was reported that "most of the Florida gas tax holiday savings were pocketed by fuel companies."
Phasing out gas-powered cars and accelerating the clean energy transition is causing price spikes.
FALSE: The relationship between refinery outages and price spikes dates back to at least 2000 – long before California's most significant climate policies accelerating our transition were in effect.
Big Oil claims this transition is difficult yet they make more money than ever – billions of dollars just in California. Last year the state's oil refining companies made more than $50 billion in net profit. California is creating a regulatory environment to incentivize new technologies and Big Oil has the opportunity to be part of the future.
This will further restrict supply and potentially lead to gas shortages.
FALSE: Right now, Big Oil can and does let supply dip, artificially creating higher prices at the pump and letting oil companies reap the profits. This proposal ensures the opposite – it would require companies to keep supply on hand so they can draw it down during outages, to avoid shortages.
Thanks to new transparency measures, we know the real story. Refiners let supplies dwindle over the summer, restrain output through maintenance, and sell at inflated prices.
This proposal requires oil companies to responsibly manage their fuel inventory and backfill supply when refineries are offline – just as many countries already do. This will help prevent gas price spikes.
Building new storage tanks is costly and will only drive more refineries out of the state and increase prices more.
FALSE: This proposal does not require the oil industry to build new storage tanks. There is already enough storage.
The oil industry regularly stores more gasoline in the winter months, so they can maintain extra supply without building new storage tanks.
Press Releases, Recent News
More on The Californer
https://www.addtoany.com/add_to/facebook?linkur..." rel="nofollow external noopener">https://www.addtoany.com/add_to/x?linkurl=https...">https://www.addtoany.com/add_to/email?linkurl=h...">https://www.addtoany.com/add_to/copy_link?linku...">Recent news
CHP retail crime task force makes 1,000+ arrests, recovers $7.8 million in stolen goods this year
Sep 18, 2024
News What you need to know: In August, California's Organized Retail Crime Task Force continued with its high rates of enforcement, and is already well on its way to surpassing enforcement totals for all of 2023. In August alone, CHP reported 171 arrests, and the...
Governor Newsom signs bills to combat deepfake election content
Sep 17, 2024
News SAN FRANCISCO – Taking action to address the use of deepfakes and other deceptive digitally generated or altered content in election campaigns, Governor Gavin Newsom today signed three measures to remove deceptive content from large online platforms, increase...
Governor Newsom signs bills to protect digital likeness of performers
Sep 17, 2024
News What you need to know: The Governor signed two bills to require the consent of actors and performers to use their digital likeness, strengthening protections for workers. SACRAMENTO – Governor Gavin Newsom signed two bills to help actors and performers protect...
Sep 18, 2024
Debunking Big Oil's lies ahead of first special session hearings
What you need to know: The special session on gas price spikes is underway – and the oil industry is working overtime to stand in the way of relief at the pump.
SACRAMENTO – The first hearings of the legislature's special session considering the Governor's proposal to prevent gas price spikes get underway later today.
Last year's special session allowed the state to uncover new evidence that when Big Oil lets supplies run low, they can charge higher prices and earn windfall profits, all while California consumers are left to face the brunt of price spikes at the pump.
When refineries go offline for maintenance but fail to maintain back-up supply, gas prices spike. Last year alone it cost Californians upwards of $2 billion while refiners netted $50 billion in profits.
And the state's new petroleum watchdog issued a consumer advisory last week, warning that refinery maintenance, low inventories, and spot market volatility are driving up California gas prices once again, even as crude oil prices and national gas prices are declining. These are the same market conditions that drove retail gas price spikes in 2022 and 2023.
The Governor's proposal, ABx2-1, authored by Assemblymembers Cecilia Aguiar-Curry and Gregg Hart, allows the state to require oil refiners to manage a minimum inventory of fuel to avoid supply shortages that create higher gas prices for consumers – and higher profits for the industry. It would also authorize the CEC to require refiners to plan for resupply during scheduled refiner maintenance.
As expected, the oil industry is wasting no time to define and distort the Governor's plan. Here are Big Oil's top lies debunked:
California's gas tax and fees are the reason for high gas prices.
FALSE: State taxes and fees are fixed and don't change when gas prices spike.
At the peak of the 2022 and 2023 gas price spikes, Californians were being charged a record $2.61 and $2.25 more per gallon, respectively, than people in other states. California's gas tax and fees added up to less than half of that difference and didn't change during those spikes. Industry couldn't explain where the additional charge came from.
More on The Californer
- Community Colleges of Ventura County Uplift LGBTQIA+ Graduates at Third Annual Lavender Celebration
- Performer sues San Diego library with help from Pacific Legal Foundation after being barred from portraying black historical figures
- SEEAG's Gill's Onions' "Double Your Impact Challenge"
- Machine Vision Products Expands Operations in Malaysia to Assemble MVP 900 Series AOI Systems
- New PSA Campaign to Address Black Maternal and Infant Mortality in Los Angeles County
Suspending California's gas tax is the best way to bring prices down.
FALSE: Suspending the gas tax would give oil companies a huge tax break and more profits. There's no guarantee they'd pass down the savings to people at the pump. Instead, it would amount to a $7 billion annual cut in essential services like schools and health care.
Look at what happened in Florida – they had a gas tax "holiday" (25.3 cents/gallon), and it was reported that "most of the Florida gas tax holiday savings were pocketed by fuel companies."
Phasing out gas-powered cars and accelerating the clean energy transition is causing price spikes.
FALSE: The relationship between refinery outages and price spikes dates back to at least 2000 – long before California's most significant climate policies accelerating our transition were in effect.
Big Oil claims this transition is difficult yet they make more money than ever – billions of dollars just in California. Last year the state's oil refining companies made more than $50 billion in net profit. California is creating a regulatory environment to incentivize new technologies and Big Oil has the opportunity to be part of the future.
This will further restrict supply and potentially lead to gas shortages.
FALSE: Right now, Big Oil can and does let supply dip, artificially creating higher prices at the pump and letting oil companies reap the profits. This proposal ensures the opposite – it would require companies to keep supply on hand so they can draw it down during outages, to avoid shortages.
Thanks to new transparency measures, we know the real story. Refiners let supplies dwindle over the summer, restrain output through maintenance, and sell at inflated prices.
This proposal requires oil companies to responsibly manage their fuel inventory and backfill supply when refineries are offline – just as many countries already do. This will help prevent gas price spikes.
Building new storage tanks is costly and will only drive more refineries out of the state and increase prices more.
FALSE: This proposal does not require the oil industry to build new storage tanks. There is already enough storage.
The oil industry regularly stores more gasoline in the winter months, so they can maintain extra supply without building new storage tanks.
Press Releases, Recent News
More on The Californer
- California: Governor Newsom announces new tax credits that will generate $2.1 billion investment in world's 4th largest economy
- EY US unveils Lance Watkins of Tenant Inc. as an Entrepreneur Of The Year® 2025 Pacific Southwest Award finalist
- Global Families Turn to Young Travelers Concierge Amid Rising Safety Concerns in the U.S
- Long Beach Youth Poets Take the Stage: 2025 Youth Poet Laureate Finals Set for May 17
- Sober.Buzz the Sober Token : Ticker $BUZZ
https://www.addtoany.com/add_to/facebook?linkur..." rel="nofollow external noopener">https://www.addtoany.com/add_to/x?linkurl=https...">https://www.addtoany.com/add_to/email?linkurl=h...">https://www.addtoany.com/add_to/copy_link?linku...">Recent news
CHP retail crime task force makes 1,000+ arrests, recovers $7.8 million in stolen goods this year
Sep 18, 2024
News What you need to know: In August, California's Organized Retail Crime Task Force continued with its high rates of enforcement, and is already well on its way to surpassing enforcement totals for all of 2023. In August alone, CHP reported 171 arrests, and the...
Governor Newsom signs bills to combat deepfake election content
Sep 17, 2024
News SAN FRANCISCO – Taking action to address the use of deepfakes and other deceptive digitally generated or altered content in election campaigns, Governor Gavin Newsom today signed three measures to remove deceptive content from large online platforms, increase...
Governor Newsom signs bills to protect digital likeness of performers
Sep 17, 2024
News What you need to know: The Governor signed two bills to require the consent of actors and performers to use their digital likeness, strengthening protections for workers. SACRAMENTO – Governor Gavin Newsom signed two bills to help actors and performers protect...
0 Comments
Latest on The Californer
- Airbnb Announces First Quarter 2025 Results
- Grammy-Nominated Producer and Former A&R Executive Launches Cutting-Edge Music Distribution Platform
- California's population increases — again
- Mission 3A Establishes Healthcare Advisory Board with Addition of Industry Leaders Patrick Fisher, Kevin Cordell, and Dr. Greg Berlet
- SSATI Completes Acquisition of Invex Technology Solutions and ITIC Corporation's Government Support Services
- Governor Newsom on illegal House effort to curb California's tools for cleaning the air: 'Making California smoggy again'
- InventHelp Inventor Develops New Therapeutic Aid (RSM-201)
- New Children's Book for AAPI Heritage Month Redefines Royalty Through Acts of Kindness
- New Podcast "Change Cycle" Unpacks the Complexity of Driving Systemic Change Toward a Circular Economy
- Cabrillo Economic Development Corporation Debuts First Community Little Free Library
- Rkaydz Video Game Museum Launches "Acquisition Series"
- New Survey: U.S. Veterans Say Video Games Support Mental Health and Well-Being
- Coastguard Nelson (NZ) selects Omnitronics omnicore Express Dispatch - Completing their transition from analog to digital
- Free AI Movie Recommender Launched by Slept-On Cinema Podcast
- TitanX Exchange Expands Trading Platform with New Interface
- New Book Reveals Brain-Based Method to Make Brands Unforgettable, Based on Neuroscience
- First Choice Neurology Partners with NeuroDiscovery AI to Advance Neurological Care and Research
- Is Billboard Advertising Still Effective in 2025?
- Women in Wellness LA 2025 Returns with an Exclusive Night of Longevity, Healing & Networking
- Climate Masters Inc. Poised for Record-Breaking Year in 2025