California Gov. Gavin Newsom has signed a new law that could penalize oil companies for making too much money
Gov. Gavin Newsom signs a bill aimed at addressing gas price gouging while surrounded by legislators and state officials in the Capitol rotunda, Tuesday, March 28, 2023, in Sacramento, Calif. SACRAMENTO, Calif. — — It was just a few weeks ago that California Gov. Gavin Newsom called the oil industry the second most powerful force on earth, trailing only Mother Nature in its ability to bend the elements — both physical and political — to its will.
The oil industry doesn’t mind a David vs. Goliath comparison “as long as you think we’re David and not Goliath,” Kevin Slagle, spokesperson for the Western States Petroleum Association, said about the industry’s influence at the state Capitol. “Just look at the results the last couple of years on legislation.”
“We're never going to get it right, in terms of this transition , unless we minimize and mitigate the power and influence of big oil in this country,” said Newsom, now in his second term in office and widely seen as a potential presidential candidate beyond 2024. “They're the biggest impediment to a just transition.”
Those donations did not always translate to favorable votes. New Assemblymember Esmerelda Soria, a Democrat who represents parts of the Central Valley, was the top beneficiary of money from a Western States Petroleum Association-affiliated committee. Soria voted Monday to support the legislation despite industry opposition.
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