Gavin Newsom’s reckless special session could lead to increased gas prices throughout California – Daily News

Governor Newsom has called for a special legislative session in California to address the high gas prices in the state, which are significantly higher than the national average. However, critics argue that the proposed solutions offered by Newsom and the legislature will only make the problem worse. California leads the nation in gas taxes, has high manufacturing costs for a unique summer gasoline blend, imposes strict regulatory rules on refineries, and limits the pumping of oil despite having proven reserves. Instead of addressing these fundamental issues, the proposed solutions include taking over some refineries and imposing costly regulations on others, as well as mandating higher oil reserves for refineries to stock. Critics argue that these measures will only increase costs and lead to chaos in the oil refining industry, without actually lowering gas prices. The article points out the economic illiteracy of such proposals, citing the example of Philadelphia’s failed soda tax. Newsom’s plan is criticized for failing to address the root causes of high gas prices in California, which are attributed to the state’s anti-competitive and anti-free market behavior. The author, Don Wagner, a member of the Orange County Board of Supervisors, warns that the special legislative session is unlikely to succeed in reducing gas prices and shortages unless it addresses these underlying issues.

Source
Photo credit www.dailynews.com