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As gas prices soar, Newsom demands tax on ‘rip-off’ oil companies, switch to winter blend

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As gas prices in California soar, Gov. Gavin Newsom on Friday called on lawmakers to introduce a windfall tax on “rip-off” oil companies and urged state air regulators to allow refineries to produce cheaper winter-blend gasoline to help boost supplies and cut prices.

“Crude oil prices are down. Oil industry profits are up. Yet gas prices in CA have increased by record amounts. It doesn’t add up,” Newsom said in a tweet accompanying a video message. “We’re calling for a windfall tax so these profits go back to Californians paying for this oil company extortion.”

Despite Newsom’s message, any proposed laws wouldn’t be introduced until January, when the Legislature is back in session after an end-of-calendar recess that began in late August.

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