Sacramento, CA, December 5, 2022 – Today, the Governor convened a special session to crack down on the oil industry’s price-gouging practices. In calling for this special session, Governor Newsom is urging the legislature to pass bills that will penalize excess oil-refinery profits, discourage price hikes, and improve transparency and oversight of the oil industry.
This fall, oil companies priced gas in California $2.61 over the national average without explanation. Meanwhile, the oil industry reported record-bring profits of $63 billion in just 90 days.
Last month, Sierra Club California joined other environmental organizations to support the Governor’s call for a special session to address inexplicably high gasoline prices in the state. Further, the organizations encouraged the state to use the proceeds from these penalties to advance solutions that will help transition the state away from fossil fuels.
Statement from Brandon Dawson, Sierra Club California Director:
“Oil companies should not continue to profit from perpetuating the climate crisis and contributing to toxic air in California communities. Governor Newsom is right to call on the legislature to combat oil industry profiteering through a price gouging penalty.
“The legislature should take this call seriously, and push for policies and funding that will transition the state away from dirty fossil fuels once-and-for-all.
Sierra Club California is the legislative and regulatory arm of Sierra Club’s 13 local chapters in California, representing half a million members and supporters.