California Gov. Newsom Unveils New Plan to Curb Oil Profits, Create Gas Price Watchdog

California Gov. Newsom Unveils New Plan to Curb Oil Profits, Create Gas Price Watchdog
California Gov. Gavin Newsom speaks during a press conference in Sacramento on Feb. 1, 2023. Justin Sullivan/Getty Images
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California Gov. Gavin Newsom released a new proposal on March 20 aimed at limiting how much profit large oil companies can make and holding them “accountable” for alleged price gouging.

Newsom announced in a press release that he'd reached a deal with legislative leaders regarding the proposal, which is authored by state Sen. Nancy Skinner, and which will now go through committee hearings and votes in the Democrat-controlled Legislature.

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