In yet another blow to California’s energy market, Democratic Governor Gavin Newsom has signed a controversial bill targeting Big Oil, which critics warn will cause gas shortages and further price hikes. Despite claims that the legislation will protect consumers, many are concerned that it will have the opposite effect.
Governor Newsom, in his usual combative style, accused the oil industry of exploiting Californians. “Big Oil has been screwing you for decades,” he declared at the bill’s signing, a clear jab at the industry he’s long targeted. He emphasized the need for intervention: “Price spikes have cost Californians billions of dollars over the years, and we’re not waiting around for the industry to do the right thing.”
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Newsom insisted the bill is designed to bring relief to drivers by curbing what he sees as manipulative pricing by oil companies. “We’re taking action to prevent these price spikes and save consumers money at the pump,” he said, framing the bill as a consumer-first initiative. But many aren’t buying it, predicting the exact opposite outcome.
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