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

First on Fox: Top outside group backing House...

October 8, 2024

WILL SCOTUS TAKE THIS ON? The Four Brunson...

December 12, 2022

House Republican rips ‘naivete’ of Biden admin’s $6B...

August 14, 2023

Man Arrested After Vandalizing the Washington Monument (VIDEO)

September 21, 2022

Two Planes Down Over Colorado After Mid-Air Collision

September 18, 2022

‘Malign influence’: Top Biden official faces backlash ahead...

November 15, 2024

District judges’ orders blocking Trump agenda face hearing...

April 2, 2025

Momentum shifts against Kamala Harris just days before...

October 29, 2024

Dems test out attack on Trump’s age with...

July 22, 2024

From ‘joyful’ to ‘fascist’ – Why Kamala Harris...

October 24, 2024

    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 ally stands firm against ‘big, beautiful bill’ despite pressure: ‘It’ll completely backfire’

      June 8, 2025
    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • 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

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,571)
    • 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