California Gov. Newsom's latest war on oil is off to a rough start
Fox News
California Gov. Gavin Newsom's plan to limit oil companies' profits was met with criticism by Democrats, Republicans and experts alike at a state hearing earlier this week.
"Enacting SBX1-2 is not in the best interests of the consumer, will not reduce retail pump prices and is not in the best long-term economic interests of California," said Michael Mische, a professor at the University of Southern California Marshall School of Business. "There are better alternatives." Thomas Catenacci is a politics writer for Fox News Digital.
He added that the bill "will only make matters worse for the California consumer" and "serve as a disincentive for investing in supply and new technologies for the refiners."
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