California Democrats pass Newsom’s proposal that could penalize oil company profits

California Democrats pass Newsom’s proposal that could penalize oil company profits

[ad_1] “My biggest fear was that the penalty would just be passed on to consumers,” Assemblymember Al Muratsuchi (D-Torrance) said during Monday’s Assembly floor debate. “That is a bipartisan concern. This measure, it doesn’t require penalties, it doesn’t require any maximum profit caps.” Instead, he said, it adds transparency to the oil market and requires…

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