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Started By
Message
re: California Bureaucrats Empowered to Dictate Gasoline Prices
Posted on 3/21/23 at 8:19 am to ragincajun03
Posted on 3/21/23 at 8:19 am to ragincajun03
quote:
Under the proposal, authored by state Senator Nancy Skinner, the California Energy Commission would be allowed to impose a penalty on refiners that charge more than an allowable margin for the price of gasoline, Newsom’s press office said in a statement.
None of those margins are as high as the state taxes on a gallon of gas.
1
Posted on 3/21/23 at 8:20 am to Marshhen
quote:
Now do Big Tech’s profits in CA…
That's (D)ifferent.
Posted on 3/21/23 at 8:21 am to SantaFe
quote:
I have a friend here in Beirut Rouge that owns several of the gas/convenience stores here. He tells me that he makes more selling soft drinks than he does on selling gasoline.
When is the last time you saw a filling station that only sold gas and wasn't attached to a convience store?
Gas stations are simply giant vending machines that rely on the fact that people have to periodically go there to fill up to get business. They make very little money on the gas and most of their profits come from coffee, soft drinks, candy bars, etc.
Posted on 3/21/23 at 8:24 am to ragincajun03
Is there anything in there about when that allows them to increase prices when the market is lower and refiners are losing money and laying off workers?
Posted on 3/21/23 at 8:26 am to goofball
quote:
None of those margins are as high as the state taxes on a gallon of gas.
Yep.
California is overregulated period. Its a war on poor people.
They want to protect the upper middle and wealthy classes with high taxes, obscene regulations that prevent barriers of entry.
Posted on 3/21/23 at 8:27 am to Jack Bauers HnK
quote:
Just begs the question why they would bother to sell to California at a fixed profit when there’s a market everywhere else at market prices with higher profits?
11% of the US population is in California. The largest county has virtually zero public transportation (ie. everyone in Cali drives and consumes gas).
Oil companies can't leave California.
Posted on 3/21/23 at 8:33 am to 632627
quote:
Oil companies can't leave California.
They wouldn't have to leave. They could simply halt supply shipments and within two weeks the entire state would descend into a Mad Max movie and Gavin Newsome and his buddies would be crawling on their knees begging for gas at any price before Lord Humungus puts their head on a pike.
I say call their bluff so the rest of us could sit back and enjoy the show.
Posted on 3/21/23 at 8:36 am to ragincajun03
California makes +$1.50/gallon in taxes.
Fuels Retailer makes less than $0.30/gallon.
Fuels Retailer makes less than $0.30/gallon.
Posted on 3/21/23 at 8:38 am to ragincajun03
Will be fun if they just leave the state
Posted on 3/21/23 at 8:40 am to Centinel
quote:
The State controlling prices of goods and services. Now where have I seen this one before....
Yeah quit stalin and give us the answer!
Posted on 3/21/23 at 8:40 am to ragincajun03
quote:
California has the highest tax rate on gasoline in the United States. As of March 2022, the gas tax in California amounted to 68 U.S. cents per gallon, compared with a total gas price of 5.79 U.S.
When are they going to pass a bill limiting the amount of profit California makes on gasoline prices?
Posted on 3/21/23 at 8:44 am to GetBackToWork
quote:
They probably just need to go the full Venezuela model
That's what scares me. This is how it starts.
Posted on 3/21/23 at 8:45 am to ragincajun03
quote:
giving them the authority to tax, investigate and penalize refiners will likely lead to the same unintended consequences as his initial proposal — less investment in production, decreased supply, and higher costs for Californians
This is exactly what will happen and I can't wait to sit back and laugh my arse off.
Posted on 3/21/23 at 8:52 am to Jack Bauers HnK
quote:
Just begs the question why they would bother to sell to California at a fixed profit when there’s a market everywhere else at market prices with higher profits?
The size of the market is what makes Cali attractive.
I also wonder if the "record profits" coincides with no increase in the % profit margin. Prices go up, profit margin percentage stays the same or even decreases slightly, but actual dollar profits increase. And when inflation is taken into account those inflation-adjusted dollar profits are equal to or less than the previous "record profits".
Posted on 3/21/23 at 8:54 am to SloaneRanger
quote:
The margin for a retail gas station is extremely thin.
IIRC, they don't make their money on gas. They make their money on what they sell inside the store. The gas pumps are just how they get customers to the door.
Posted on 3/21/23 at 8:57 am to ragincajun03
Fuel shortages in CA in 3.., 2…, 1…
Posted on 3/21/23 at 9:05 am to ragincajun03
Dumb question, probably, but is this even legal? Is it even a grey area?
Posted on 3/21/23 at 9:06 am to OweO
quote:
I had an uncle he use to have a gas station & tire shop. I want to say he used to me 3 or 4 cents a gallon
it’s a little under 2 cents these days. Hence why none of the US majors own their own gas stations anymore.
Posted on 3/21/23 at 9:28 am to thermal9221
quote:
The State controlling prices of goods and services. Now where have I seen this one before....
quote:
Yeah quit stalin and give us the answer!
Underrated post
Posted on 3/21/23 at 9:44 am to ragincajun03
Why don't they do this for Apple?
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