In a bid to control escalating gas prices, California GovernorGavin Newsom (D) has signed into law a bill that empowers his administration to regulate the state’s dwindling oil refineries. The move underscores California’s ongoing battle with affordability. What Happened: Newsom approved the ABX 2 1 bill. The legislation mandates oil companies to prevent price surges due to maintenance issues and low supplies. The signing of the bill marks a decline in the political clout of Big Oil in California, a state actively transitioning from fossil fuels to renewable energy sources, reported Politico. …
