Gavin Newsom and Katie Porter say oil companies are fleecing Californians. prices up 84 cents...

[IcyPeas]

Governor @GavinNewsom is right: greedy oil companies are fleecing Californians. While families struggle to pay at the pump, Big Oil is reaping record profits. My bill to hold these corporations accountable passed the House, but the Senate won't act. I'm proud California will.

...

Oil companies are ripping you off. Their record profits are coming at your expense at the pump.

I’m calling for a NEW windfall tax exclusively on oil companies. If they won't lower their prices we will do it for them.

The $$ will go directly back to you.

Link to tweet

[SheltieLover]

1. Yup! Diesel $4.98, regular $2.99

Keeping food prices high with ridiculous diesel prices!

[Hermit-The-Prog]

2. Of course. They want the Gangsters Of Putin back in power to de-regulate and cut taxes.

Roe, Roe, Roe your vote
against theocracy!
Republicans revoke your rights
and kill democracy!

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https://www.democraticunderground.com/100217192221

Stick 'em up for a blue wave: https://www.democraticunderground.com/100217078977

[Wah_Guy]

3. +$5 for every grade, here in southern Oregon. n/t

[skylucy]

4. Our Governor (Gavin) is really on a roll these days. Go Gov. Newsom!

[Zeitghost]

5. So we're going to tax gas to make it cheaper?

The burden of any tax is split between the consumer and the producer. If the price is relatively elastic, the producer will bear the brunt of that burden. If the price is inelastic, the consumer will bear the brunt.

Gas is one of the most inelastic products we buy...

[MichMan]

6. Doesn't his authority to tax them only apply to their California operations?

I don't believe they own all that many gas stations directly, so that would likely include refineries plus any crude importation and logistic operations.

Since they already pay state taxes, how much constitutes designating it as a windfall ?