California Gov. Gavin Newsom said Friday he will call a special session of the state Legislature in December to pass a new tax on oil company profits to punish them for what he called “rank price gouging.” Cheryl Hurd reports.
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41 Comments
LOL Calif is in the downward swirl into the USA’s toilet
Gruesome Newsom
It's mostly about Supply and Demand. Newsome has closed down refineries, slashed production
Ca is having to import oil which increases cost. Plus, CA has a new Gas Tax that's in effect. It's Not the Oil Companies. It's Politicans failing policies
Well if Joe bine just opened up drilling in America we could solve all the problems But then that means he would have to admit Donald Trump was right all the time, So Americans get ready to get screwed.
How is this man still standing where he is and saying what he is saying
Vote him out this November.
This guy is a menace to California.
😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
Newsome is taking advantage of Californians. Gas has gone up here too but is only $3.80/gal. So this moron is going to make gas more expensive b/c those companies aren't just going to eat the extra cost but pass it down to the consumer. Hope you in Cali like $10+/gal gas.
Liars
I thought the Dems put this in that inflation bill. Oh yeah pulled it out at the last min. But this is coming from someone that is banning the use of gasoline engines
Hey Americans hate to break the news but your their suck dry of every dime you have by the Corporate Oligarchs who run America. Enjoy the so called "inflation". ExxonMobil alone in making 2 billion a month in profits all while cutting every job they can to save even more money. Inflation in America means your being fleeced as much as possible by Billionaires just like you voted for with the Orange One.
Forces EV’s on everyone then he cuts the power.
Lol big oil? Him and Biden is what he means.
If the price of oil goes up, the price of gasoline goes up. If the companies don't raise the price of the gas, their companies lose money. If they don't meet their profit margin, their stockholders don't buy stock and the company fails. Then no one has any gas…but Goofy Newsome has to float this myth that all the stockholders are getting rich off the gas prices. So you raise the taxes…and the gas company says fine…we won't send gas to California. But then this is the guy who fights inflation by taxing the citizens, then takes the money and gives a third of it back to the citizens he took it from…so they can pay the inflated prices for food. Democrats all took Political Science (how to lie to get people to vote for you) but none of them took Economics…they hire accountants to keep track of THEIR money. Anyone seen a poor politician running around recently?
tax..tax..tax.. what else is new in California? more money in whose pocket.
Taxing companies on their profits will bring the price down…? 😂😂😂 does anyone in CA know economics ?
Yeah high gas has nothing to do with the 2 bedroom, 1 bath homes that cost 1.5 Million dollars in San Diego.
I thought everyone drove electric cars.
With the movement on gasoline prices, I have changed how I drive and I am saving a ton of money.
Make a list of your weekly car trips and cluster them together to minimize your driving.
Most people can cut their driving by 66% pretty easily.
Carpool with your spouse on the way to work to cut your driving in half.
If we all do this, the Russian and Saudi plan to collapse our economy with inflation from fuel prices will fail.
We should investigate to determine if the Russians and Saudis are trying to short our stock markets.
If they are trying to manipulate the markets with oil supply cuts, we could "Robbin Hood" their shorts and bankrupt the conspirators.
Do you remember the ending of the movie, Trading Places?
If we drive up the prices of the stocks they have shorted, we could gut them with the margin call.
It would be so satisfying to "Robbin Hood" people who are trying to make a buck while destroying America.
ROFL
😊 smooth move messing with big oil’s profits & cutting your own throat. 😊👍
Looks like the petroleum industry has a lot of trolls making stupid comments here. Meanwhile. those corporations are raking in massive profits and the people bitching about high gas prices say it's Biden/Newsom's fault???? The problem is more complex than just "blame the Democrat" folks. But right wingers have never been good at complex problem solving.
so the gas companies are stealing from the consumer and the government is going to steal it from them? tell me when this will help the customer.
Newsome is the dumbest politician in the U.S…and that’s in light of Sleepy, AOC and KamelToe. He’s taking advantage of you dumb Dim voters who put these morons in place. Vote RED!!!
Nothing about the Homeless problem?
Glad I live in "JESUS GUNS PRO LIFE TRUMP MERICA BBQ 3$ A GALLON GAS STATE of Texas.
LETS DO THE SAME TO THE WINE INDUSTRY!
California is the most illiterate State in America so stupid is as stupid does.
"We are going to ban gas cars in order to force everyone onto electric cars even though the 2% of cars that are currently electric are already too much for our electric grid to handle." – Democrat logic working at peak capacity. Nevermind California gas already being $5/gal more than most of the country because of current taxes.
Oh my good Lord !!!!
I love how pathetic NBC, the democrats, Gavin Newsome, California is,,,,, SO dumb..
NO one bothers to ask or offer an explanation as to how a windfall profit tax against the gas companies is going to lower prices at the pump,,,, of course it won't… lol..
California NBC news Gavin Newsome,,,, ALL pathetic !!!
Do the Joe Biden and say…Uh, it's Russias fault. Then when prices go down…claim it as your actions…then when they go back up…RUSSIA, AGAIN!!!
This is all bullocks. If you really cared about oil companies ripping off Californians and he would immediately get rid of the gas tax and get rid of state income tax. If we have the best highest GDP in the world why do we need State local income tax? But keep voting blue so you can get tax more.
Get rid of these idiots!
California deserves what they get. All of their own doing. Windfall tax is folly- oil companies will just pass it on in the form of higher prices. Taxes are a hidden price hike- it’s called economics 101.
Gas prices are high so let’s lower it by taxing the companies that sell it. Man you must be a special kind of stupid if you think that will work. That will only be transferred to the consumer. Good luck California!
I'm thinking our EX called his Saudi buddy buddies to get them to make things hard on America since America is holding him responsible for his crimes. If he can't have his way, he wants to burn everything down so he can say, "Told you so."
Yes! Tax them so they can pass it on to us 😂😂😂 Gavin, you’re a f//cking joke.
More taxes 😆
So taxing the oil company is supposed to make them bring the price down?
They think you dont know that tax will be paid by you. And none of the tax collected will benefit you either.
Hahahahahaha so stupid! Gee I wonder if this will increase prices? Hmmmmmm
Democrats…tax, tax, tax. Who do you think is going to actually pay that tax? Well, you are…with higher prices at the pump!