The California Senate narrowly passed a new oil regulation bill on October 11, granting the California Energy Commission more power over oil refineries to control gas prices. Assembly members Gregg Hart and Cecilia Aguiar-Curry introduced Assembly Bill X2-1, which allows the commission to order refiners to store additional fuel and regulate refinery maintenance schedules.
Supporters believe the bill will prevent sudden price hikes by ensuring sufficient fuel reserves. Senate President pro tem Mike McGuire praised the legislation, stating it would stop fuel prices from skyrocketing, a growing issue for California families.
Senator Nancy Skinner, co-author of the bill, highlighted how stabilizing gas prices could save Californians billions of dollars lost to price spikes. She expressed confidence that the measure would provide relief at gas stations, offering struggling households much-needed respite. On the other hand, critics warn that the bill could lead to higher prices, as refiners may reduce supply to meet reserve requirements. Chevron executive Andy Walz cautioned that the bill might worsen fuel shortages and cause lasting price increases, affecting not just California but also neighboring states like Arizona and Nevada.
Despite these concerns, Governor Gavin Newsom celebrated the Senate’s vote, claiming the bill would shield consumers from what he called “Big Oil’s” price manipulation. Meanwhile, Republican Senator Brian Dahle criticized the bill, questioning the need for a special session and arguing it provides no immediate solution.As the state continues to tackle its energy challenges, lawmakers from both sides urge better oversight to avoid economic repercussions while implementing new regulations.
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