California Gas Prices: Blame State Policies, Not Oil Companies
Oakland News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Californias sky-high gas prices, the highest in the nation, are causing a furor among drivers. A CBS News investigation found no evidence of illegal gouging, but rather a complex mix of state taxes, strict regulations, and refinery shutdowns. The states excise tax, cap-and-trade, low-carbon fuel standards, and sales taxes contribute significantly to the high prices. Refineries are leaving due to high labor costs, energy bills, and policy uncertainty. The state is now importing special blend gas from Asia, leading to longer shipping times, increased pollution, and price volatility. The political narrative is shifting, with leaders acknowledging the need to attract oil companies back. The real solution may lie with voters, who are considering Nevadas cheaper gas prices in the next governor race.
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