Absurdity of California Oil Profits Tax Becoming More Obvious

The Phillips 66 Los Angeles Refinery Wilmington Plant in Wilmington, Calif., on Nov. 28, 2022. Mario Tama/Getty Images

Commentary

It never made any sense for a businessman named Gavin Newsom, now California’s governor, to come out against profits—in this case, for the oil companies. In calling a special session of the Legislature last November, he branded it “price gouging” by “Big Oil.”