Californians might have to choose between higher gas prices or scaling back its climate agenda, state regulators told legislators last week at a special state Senate hearing on a proposed oil industry windfall profits penalty.
Gov. Gavin Newsom called the special session of the Legislature Feb. 22 to consider imposing penalties on oil companies to restrict them from making excessive profits in the state.
During the hearing, state regulators were not able to explain why gas prices spiked last year, which caused some residents to pay up to $8 a gallon, but said the state’s environmental laws contributed to the high prices….