The governor’s profit penalty (tax) scheme would disincentivize badly needed refining output. Economists say that could raise prices and bring back long lines at gas stations due to fuel shortages.

Gas prices are high because oil supply and refining can’t keep up with demand. Raising taxes on oil companies will only discourage production, making matters worse.

Governor Newsom’s energy policies have cost the state 75 million barrels of oil production – equivalent to over 42% of the emergency stockpile releases under President Biden.

The governor’s policies sacrifice energy security and reliability, leaving the state vulnerable to supply shortages and price spikes.

Heavy dependence on foreign energy has left Europe vulnerable to supply shortfalls and price volatility. Governor Newsom is following the same energy policy playbook in California.

As Governor Newsom continues his daily tirades against oil companies, experts are correcting the record with facts explaining how California’s energy policies are causing higher prices at the pump.

More oil is needed to balance supply and demand, but California production is down more than 22% under Governor Newsom’s policies.

Instead of fixing his failed policies, the Governor turns to gaslighting.

After repeatedly being warned that his policies would lead to supply shortages and higher costs, the Governor points fingers when gas prices spike.