{"id":68322,"date":"2024-05-23T13:02:30","date_gmt":"2024-05-23T18:02:30","guid":{"rendered":"https:\/\/olduvai.ca\/?p=68322"},"modified":"2024-05-23T13:02:30","modified_gmt":"2024-05-23T18:02:30","slug":"california-governor-escalates-the-war-on-gasoline-impacting-neighboring-states","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=68322","title":{"rendered":"California Governor Escalates the War on Gasoline Impacting Neighboring States"},"content":{"rendered":"
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California Governor Escalates the War on Gasoline Impacting Neighboring States<\/a><\/h3>\n<\/div>\n<\/div>\n
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Prepare to pay another $1 per gallon in California with higher prices in Nevada and Arizona too.<\/div>\n
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The War on Gasoline a Gift to Trump<\/strong><\/p>\n

The Wall Street Journal says\u00a0Gavin Newsom\u2019s War on Gasoline Is a Gift to Donald Trump<\/a>.<\/p>\n

California\u2019s prices are the highest in the country\u2014$5.21 a gallon on average vs. $3.59 nationwide\u2014owing to hefty taxes and burdensome regulations, such as its cap-and-trade program and low-carbon fuel standard. Here\u2019s the rub: California refineries supply nearly 90% of Nevada\u2019s gasoline and half of Arizona\u2019s.<\/p>\n

Mr. Newsom is escalating his war on the industry. The California Energy Commission is planning to impose a tax on refineries\u2019 \u201cgross margins\u201d\u2014i.e., the difference between wholesale gasoline and crude prices plus certain regulatory costs. The gross margin notably doesn\u2019t include refiners\u2019 operating costs, which include employee pay.<\/p>\n

Mr. Newsom conflates profits and gross margins. According to\u00a0the commission\u2019s data, refiners lost between 10 and 38 cents on each gallon they produced from October 2023 through February 2024, while their gross margins ranged from 56 to 79 cents a gallon.\u00a0In December, California refineries lost 31 cents a gallon while the state imposed $1.15 a gallon in taxes and regulatory fees.<\/p>\n

The price gougers in Sacramento now want to penalize drivers even more. Mr. Newsom is pushing the commission to finalize the refinery tax at the same time as the California Air Resources Board, or CARB, prepares to tighten its low-carbon fuel standard and greenhouse-gas emissions cap. These regulations add about 54 cents to the price of each gallon of gasoline. CARB\u2019s rules will increase the cost by an estimated 88 cents a gallon in 2026 and $1.01 by 2031.<\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

California Governor Escalates the War on Gasoline Impacting Neighboring States Prepare to pay another $1 per gallon in California with higher prices in Nevada and Arizona too. The War on Gasoline a Gift to Trump The Wall Street Journal says\u00a0Gavin Newsom\u2019s War on Gasoline Is a Gift to Donald Trump. California\u2019s prices are the highest […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[101,1423,29233,14648,13390,861],"class_list":["post-68322","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-california","tag-gasoline-price","tag-gavin-newsom","tag-michael-shedlock","tag-mishtalk","tag-wall-street-journal"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=68322"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68322\/revisions"}],"predecessor-version":[{"id":68323,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68322\/revisions\/68323"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=68322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=68322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=68322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}