Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

California Governor Newsom to Call Special Session to Impose Windfall Tax on Oil Companies Amid Soaring Gas Prices

by October 9, 2022
October 9, 2022
California Governor Newsom to Call Special Session to Impose Windfall Tax on Oil Companies Amid Soaring Gas Prices

California Governor Gavin Newsom on Friday announced his will be calling a special legislative session to impose a windfall tan on ‘greedy’ oil companies.

Newsom made the announcement amid soaring gas prices.

California already has the highest gas prices in the nation at more than $6 per gallon.

Californians already pay the highest tax rate on gasoline in the US which amounts to 68 cents per gallon.

“I’m calling for a Special Session to address the greed of oil companies. Gas prices are too high. Time to enact a windfall profits tax directly on oil companies that are ripping you off at the pump.” Newsom said on Friday.

Of course the tax will just be passed down to the consumer.

NEW: I’m calling for a Special Session to address the greed of oil companies. Gas prices are too high. Time to enact a windfall profits tax directly on oil companies that are ripping you off at the pump.

— Gavin Newsom (@GavinNewsom) October 7, 2022

The Hill reported:

California Gov. Gavin Newsom (D) announced Friday that he plans to call a special session of the state legislature in December to impose a tax on oil companies’ profits as gas prices remain at record levels in the state.

Newsom at a press conference on Friday said that California’s major environmental regulations are not the cause of the high prices. He said all the environmental related costs do not equal the roughly $2.50 per gallon more that Californians are paying for gas than the average American.

AAA states that a gallon of gas costs an average of about $3.90 nationally.

Newsom said most states have gas taxes that average about 30 cents while California’s is 54 cents, which he said does not add up “anywhere close” to $2.50.

“This is just rank price gouging,” he said. “They can get away with it. They’re fleecing. They’re taking advantage of you, every single one of you, every single day.”

He said the oil companies are taking hundreds of millions of dollars per week and then “polluting this planet.”

“It’s time to get serious,” Newsom said about the special session. “I’m sick of them defining the terms, defining the narrative.”

The post California Governor Newsom to Call Special Session to Impose Windfall Tax on Oil Companies Amid Soaring Gas Prices appeared first on The Gateway Pundit.

0
FacebookTwitterGoogle +Pinterest
previous post
THANK A DEMOCRAT: Businesses Continue to Flee Big Cities Thanks to Lawless Democrats and Rise in Violent Crime
next post
North Carolina Man with Down Syndrome Fired From Wendy’s After 22 Years on the Job

You may also like

Alleged attempt to impersonate White House chief of...

May 30, 2025

Democrats push to amend Constitution so 16-year-olds can...

January 13, 2023

McCarthy GOP primary challenger praises eight Republicans who...

October 31, 2023

Left loses it over possibility of Musk top...

March 22, 2025

DISGRACE: Someone Has to Remind Joe Biden to...

September 26, 2022

Political world reacts to former President Biden’s ‘aggressive’...

May 18, 2025

GOP senator challenges union boss to cage fight...

June 27, 2023

DeSantis says he is one of only three...

May 19, 2023

Israel vs. Hamas: There’s only one thing Israel...

October 11, 2023

School Bus Filled With Children Crashed into House...

December 1, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved