Gavin Newsom called Friday for a windfall profits tax on oil companies that would go directly back to California residents. While crude oil prices are down nationally, big oil companies have increased gas prices in California by a record 84 cents per gallon in just the last 10 days. “Crude oil prices are down but oil and gas companies have jacked up prices at the pump in California. “I’m calling for a windfall tax to ensure excess oil profits go back to help millions of Californians who are getting ripped off.”YES! California, the 5th largest economy in the world, is calling for a Big Oil windfall profits tax.

Source: The Guardian October 02, 2022 01:25 UTC