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Several major firms that refine crude oil into gas in California have been doing well lately, a contrast to consumers facing gas price hikes. Against this backdrop, Gov. Newsom has called for a special legislative session in December focused on capping windfall profits (like PBF and Valero’s recently) and a price-gouging rebate for consumers.
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As Gov.-elect Gavin Newsom prepares to begin his first term, most Californians say universal health coverage and tuition-free community college should be high priorities for new state funding. This is among the key findings of a new statewide survey released today by the Public Policy Institute of California.
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California’s economy is on the mend and revenues are fat, but Gov. Brown offered some words of gloom as he unveiled a $171 billion budget blueprint for the fiscal year beginning July 1. “If you’re a betting person, you can easily conclude that deficits are more likely than surpluses,” Brown said Thursday as he presented his 2016-17 budget to the Legislature.
An oil drilling rig off the coast of California. (Photo: Joe Belanger, via Shutterstock)
