Newsom-appointed board considers raising gas prices another 47 cents per gallon
Story by Kenneth Schrupp • 16h
(The Center Square) - As the state legislature works to pass the governor’s new regulations on refineries, the mostly governor-appointed California Air Resources Board is considering a proposal that its analysis says could raise gas prices an additional 47 cents per gallon. This proposal would also impact Arizona and Nevada, which rely on California for gasoline production.
California Gov. Gavin Newsom appears to be taking actions to regulate gasoline on two fronts — through the legislature, and CARB, which consists of 14 voting members — 12 of whom are appointed by the governor without State Senate confirmation.
“In September of last year, CARB estimated that the change could lift gasoline prices 47 cents a gallon, or $6.4 billion a year,” reported the Los Angeles Times. “Other analysts put the price even higher — 65 cents a gallon, or $8.8 [billion] a year.”
It’s unclear how much the new refinery regulations — which would give the state power to tell refineries when they’re allowed to shut down for maintenance and repairs, and determine how much inventory of gasoline to maintain on hand in case refineries have to be shut down — would cost. However, a broad coalition of Republicans, Democrats, neighboring governors, and even labor unions is opposing the measure, which does seem ready to pass.
https://www.msn.com/en-us/money/markets/newsom-appointed-board-considers-raising-gas-prices-another-47-cents-per-gallon/ar-AA1s7geD?ocid=msedgdhp&pc=HCTS&cvid=7b3877618f3b419da5640c00feba96fe&ei=40
