Newsom Signs Price-Gouging Penalty Bill for Oil Companies

Newsom Signs Price-Gouging Penalty Bill for Oil Companies
California Gov. Gavin Newsom speaks during a United Nations climate action event in New York on Sept. 21, 2022. Monica Schipper/Getty Images for Bloomberg Philanthropies
Jill McLaughlin
Updated:
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California Gov. Gavin Newsom signed a bill March 28 that plans to target oil companies with a windfall-profits penalty law, after it was rushed through both chambers of the Legislature in a week.

The law will create new regulations and extensive oversight for oil companies and allows an appointed commission to issue fines and penalties for earning profits beyond state-imposed limits.

Jill McLaughlin
Jill McLaughlin
Author
Jill McLaughlin is an award-winning journalist covering politics, environment, and statewide issues. She has been a reporter and editor for newspapers in Oregon, Nevada, and New Mexico. Jill was born in Yosemite National Park and enjoys the majestic outdoors, traveling, golfing, and hiking.
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