CalMatters
CALmatters is a nonpartisan, nonprofit journalism venture committed to explaining how California’s state Capitol works and why it matters. Environmental regulation, education, health care, criminal justice, economic inequality – the debates on these issues and others have a profound impact on the lives of 38 million Californians and beyond. Yet, mirroring trends across the country, there has been a significant decline in the number of journalists covering the Capitol in Sacramento. This has meant fewer eyes on decision makers, and a public that feels disconnected from its state government. Our team of experienced journalists, with the time and resources to dig deep, is committed to meaningfully informing Californians about the players, politics, and interests that shape the issues that affect their lives. Over the coming months, CALmatters will be working to unwrap key issues, while experimenting with the forms our stories take. To ensure we reach many Californians, we work with media organizations throughout the state that have long, deep relationships with their local audiences.
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Martin do Nascimento, CalMatters
California regulators would cap the profit margin for oil refiners and could fine companies that exceed that limit under a proposal announced Monday by Gov. Gavin Newsom, the latest escalation in his battle with the oil industry over a summer of record gas prices.
Newsom unveiled the measure, which does not yet include key details such as how much profit oil refiners would be allowed or the size of possible fines, on the same day that newly-elected legislators arrived in Sacramento to be sworn in — and to declare a special session to consider the plan that the governor has dubbed a “price gouging penalty.”
In brief remarks to reporters at the state Capitol, Newsom said the fines would act as a deterrent to future price spikes. He said he would take the next month or more to fill in the blanks of the bill, in consultation with lawmakers, who are set to reconvene Jan. 4 to begin the new session in earnest.