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than a quarter of all 120 seats in the Official cleveland March 2023 Mac Basketball Championship Shirt and I will buy this Legislature are newly elected members. Those donations did not always translate to favorable votes. New Assemblymember Esmerelda Soria, a Democrat who represents parts of the Central Valley, was the top beneficiary of money from a Western States Petroleum Association-affiliated committee. Soria voted Monday to support the legislation despite industry opposition. Recommended BUSINESS NEWS Lawmakers weigh having regulators monitor social media for bank panics BUSINESS NEWS Adidas retracts opposition to Black Lives Matter’s three-stripe design The only Democrat to vote against the potential oil profits penalty was Assemblymember Jasmeet Bains, whose district includes Kern County, home of the state’s oil industry. Her vote appeared to irk the Newsom administration. Bains, a family medicine and addiction doctor who was first elected in November, tweeted a picture of the vote, saying: “Stand alone if you must, but always stand for truth.” Dana Williamson, Newsom’s chief of staff, replied: “Alone and confused you shall likely remain.” Bains

said she voted against the Official cleveland March 2023 Mac Basketball Championship Shirt and I will buy this bill because during the height of the gasoline price spike last summer, the Newsom administration and legislative leaders refused to suspend the state’s gas tax. They argued oil companies would not pass along the savings to drivers. “What’s to stop them from passing on the cost of this new tax with high prices at the pump?” Bains said. “That inconsistency is even more frustrating.” Though the industry couldn’t stop the legislation, its presence could be felt in the final version, said Chris Micheli, a veteran California lobbyist who represents business clients but was not involved in the oil profits legislation. Newsom initially called for the Legislature to pass a new tax on oil company profits. Then he asked lawmakers to instead impose a penalty if oil company profits surpassed a certain threshold. Finally, Newsom and lawmakers agreed to let the California Energy Commission decide, punting the decision to a five-person panel appointed by Newsom with the consent of the state Senate. The bill also creates a new state agency with the power to monitor the petroleum markets, including requiring oil companies to disclose lots of data about their pricing. “The fact it took them three different substantive proposals to find something that would actually pass the Legislature I think goes to show the continued power and influence of the oil industry in this state,” Micheli said. Next year, the oil industry will be looking to exert its influence in another arena — public opinion. The industry is challenging a new state law that bans drilling new oil wells nearby homes, schools and other sensitive areas. Voters will decide in 2024 whether to uphold the law. “The partisan numbers of the two houses of the Legislature have dramatically changed,” Micheli said, referring to Democrats now having total control over state government. “The broader business community is going to have to go to the voters on some issues of public policy.” Newsom acknowledged Monday the importance of oil for the global economy, telling reporters: “I’m driving home tonight” and “I’m flying this weekend.” “Oil has built the American economy, built the industrial economy, I get it,” Newsom said. “But we are transitioning. And all I’m asking for is don’t rip us off anymore.”

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