California Empowers Energy Commission to Regulate Gas Prices and Penalize Oil Companies.
TL;DR Summary
California Governor Gavin Newsom signed a bill into law giving the state's energy commission oversight power on oil companies to investigate potential price gouging and impose penalties. The law creates a new division within the California Energy Commission to investigate industry sales and pricing activities and refer violations to the Attorney General for prosecution. The law will go into effect in 90 days, but it will likely take nine to 12 months to "stand up" the new division.
- California governor signs bill giving energy commission oversight power on oil companies CNN
- California Lawmakers Approve Country's First Penalty for High Gas Prices NBC Southern California
- California lawmakers pass country's first penalty for gas price gouging Fox Business
- New California gas price law another defeat for oil industry The Associated Press
- California lawmakers OK fines for high gas prices FOX 11 Los Angeles
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