California: Newsom looks to punish Oil Companies for making money

[Roadvirus]

California Gov. Gavin Newsom unveils plan to cap oil refinery profits - UPI.com

California Democrats want to punish energy companies from reaping in high profits to the detriment of consumers.

www.upi.com

This will be challenged in court...and most likely struck down. Dictating what private companies can do? Telling them how much they can make? That's called Government Overreach.

Newsom can also say bye bye to any future political ambitions he may have.

 

[ColdHardTruth]

California Gov. Gavin Newsom unveils plan to cap oil refinery profits - UPI.com

California Democrats want to punish energy companies from reaping in high profits to the detriment of consumers.

www.upi.com

This will be challenged in court...and most likely struck down. Dictating what private companies can do? Telling them how much they can make? That's called Government Overreach.

Newsom can also say bye bye to any future political ambitions he may have.

Keeping greedy corporate scum in check is not illegal.

 

[ttwtt78640]

California Gov. Gavin Newsom unveils plan to cap oil refinery profits - UPI.com

California Democrats want to punish energy companies from reaping in high profits to the detriment of consumers.

www.upi.com

This will be challenged in court...and most likely struck down. Dictating what private companies can do? Telling them how much they can make? That's called Government Overreach.

Newsom can also say bye bye to any future political ambitions he may have.

Typical political grandstanding - he wants the credit for work he assigns to others to (possibly) figure out how to (eventually) implement:

Newsom's proposals tasks state lawmakers with developing a profit cap based on what a refiner is earning from wholesale gasoline sales. The state energy commission, meanwhile, would be asked to develop the penalty that would be imposed if the measure becomes law.

 

[Helix]

This is unnecessary. We need a public sector competitor instead. When energy companies play their games, the new competitor can fill the production gaps.

 

[mrjurrs]

California Gov. Gavin Newsom unveils plan to cap oil refinery profits - UPI.com

California Democrats want to punish energy companies from reaping in high profits to the detriment of consumers.

www.upi.com

This will be challenged in court...and most likely struck down. Dictating what private companies can do? Telling them how much they can make? That's called Government Overreach.

Newsom can also say bye bye to any future political ambitions he may have.

Windfall profit taxes have been around for some time. And taxes even longer.

It won't be struck down.

 

[longview]

I suspect the state and local governments in California make more off the sale of each gallon of gasoline
than the oil companies.

 

[HIP56948]

Not able to say what I would do.

 

[Gateman_Wen]

California Gov. Gavin Newsom unveils plan to cap oil refinery profits - UPI.com

California Democrats want to punish energy companies from reaping in high profits to the detriment of consumers.

www.upi.com

This will be challenged in court...and most likely struck down. Dictating what private companies can do? Telling them how much they can make? That's called Government Overreach.

Newsom can also say bye bye to any future political ambitions he may have.

Making money is fine. Making it by price gouging (AKA ripping people off) is not.

 

[eohrnberger]

This is unnecessary. We need a public sector competitor instead. When energy companies play their games, the new competitor can fill the production gaps.

You've posted about a 'public sector competitor' to the petroleum industry a number of times.
I'm pretty certain what you really mean by this is a 'public sector monopoly' of the petroleum industry.
What's the track record on public sector monopolies again?
My recollection on public sector monopolies is 'inferior products and services', 'not good', 'higher costs to consumers', 'poor service to consumers'.

Why are you wishing all that on consumers?

 

[ttwtt78640]

Making money is fine. Making it by price gouging (AKA ripping people off) is not.

What would you define as an acceptable profit margin?

 

[Helix]

You've posted about a 'public sector competitor' to the petroleum industry a number of times.
I'm pretty certain what you really mean by this is a 'public sector monopoly' of the petroleum industry.
What's the track record on public sector monopolies again?
My recollection on public sector monopolies is 'inferior products and services', 'not good', 'higher costs to consumers', 'poor service to consumers'.

Why are you wishing all that on consumers?

I've also explained what I'm talking about multiple times. Perhaps you could try reading for comprehension. If you prefer strawman arguments, have fun talking to yourself.

 

[Hamish Howl]

California Gov. Gavin Newsom unveils plan to cap oil refinery profits - UPI.com

California Democrats want to punish energy companies from reaping in high profits to the detriment of consumers.

www.upi.com

This will be challenged in court...and most likely struck down. Dictating what private companies can do? Telling them how much they can make? That's called Government Overreach.

Newsom can also say bye bye to any future political ambitions he may have.

There is precedent in stopping profiteering.

 

[eohrnberger]

I've also explained what I'm talking about multiple times. Perhaps you could try reading for comprehension.

I'm sure you have, but the readers of this thread may not have read your posts in other threads, nor do I think they'll go digging for them.
Given this reality of matters, isn't it only fair for you to defend your post when challenged? Or do you think that you're too good for that, and / or your posts are too good for that?

If you prefer strawman arguments, have fun talking to yourself.

Do please identity those so called 'strawman arguments' then.

 

[Helix]

I'm sure you have, but the readers of this thread may not have read your posts in other threads, nor do I think they'll go digging for them.
Given this reality of matters, isn't it only fair for you to defend your post when challenged? Or do you think that you're too good for that, and / or your posts are too good for that?


Do please identity those so called 'strawman arguments' then.

Sealion someone who gaf. If you want to know what I support, do a search.

 

[eohrnberger]

Sealion someone who gaf. If you want to know what I support, do a search.

OK. Fair enough to consider your post as undefended pigeon droppings then.

 

[Gateman_Wen]

What would you define as an acceptable profit margin?

I'm not in the oil business, but it seems to me they were doing fine when the price of gas was about half what it is now.

All I can say for sure is when the economy is suffering but for one industry that's making record breaking profits there's a disconnect somewhere.

 

[EMNofSeattle]

This is unnecessary. We need a public sector competitor instead. When energy companies play their games, the new competitor can fill the production gaps.

You people don’t want new production, what are you talking about?

The state of California is purposefully shutting down refineries

 

[EMNofSeattle]

I'm not in the oil business, but it seems to me they were doing fine when the price of gas was about half what it is now.

All I can say for sure is when the economy is suffering but for one industry that's making record breaking profits there's a disconnect somewhere.

Oil companies do not set the price of oil, nor refined products

 

[EMNofSeattle]

Sealion someone who gaf. If you want to know what I support, do a search.

Lol. This is the leftist response, notice how the leftist is incapable of ever directly responding to a point and they use stupid terms like “sealion” to avoid making one.

 

[Helix]

You people don’t want new production, what are you talking about?

The state of California is purposefully shutting down refineries

I support a public sector energy production competitor. This involves increasing production independent of a profit motive.

 

[notquiteright]

Typical political grandstanding - he wants the credit for work he assigns to others to (possibly) figure out how to (eventually) implement:

So no leader has assigned their programs to others to carry out??? You roll your eyes at BushII delegating his Medicare reform (Part D) to others?

His decision to attack Iraq was not masterminded by him. We see tRump's epic fails on implementation of his policies until he turned them over to people who read and write on a routine basis. He Covid response will go down as one of the worst handlings of a crisis in modern US history...

Bottomline- you want leaders with good ideas but also the staff to work out the fine details where according to the old saying- the devil lives...

 

[EMNofSeattle]

I support a public sector energy production competitor. This involves increasing production independent of a profit motive.

Who cares? The people you vote for don’t support more production at all. Regardless of who’s doing it. You can support whatever you want, your ideas are not being used to run political campaigns anywhere.

 

[ttwtt78640]

So no leader has assigned their programs to others to carry out??? You roll your eyes at BushII delegating his Medicare reform (Part D) to others?

His decision to attack Iraq was not masterminded by him. We see tRump's epic fails on implementation of his policies until he turned them over to people who read and write on a routine basis. He Covid response will go down as one of the worst handlings of a crisis in modern US history...

Bottomline- you want leaders with good ideas but also the staff to work out the fine details where according to the old saying- the devil lives...

Defining what “excessive profits” means is not some insignificant detail - it’s the only (entire?) basis for taking any action.

 

[notquiteright]

Defining what “excessive profits” means is not some insignificant detail - it’s the only (entire?) basis for taking any action.

Well, your post attacked 'grandstanding' and assigning the work to others. I simply pointed some examples where just that was done and where epic fails were the result of the Head Fred keeping the planning to himself....

No doubt the oil companies will try and defend record profits. Yet another outright lie to tRump's America First blather. He should have decoupled our oil companies here in the USofA from the oil cartel price fixing schemes....

 

[Helix]

Who cares? The people you vote for don’t support more production at all. Regardless of who’s doing it. You can support whatever you want, your ideas are not being used to run political campaigns anywhere.

If you don't care about what I support, feel free to scroll past.