Newsom Backs Making California Oil Refineries Keep Minimum Supplies

California Gov. Gavin Newsom called on state lawmakers Aug. 15 to pass new regulations on oil refineries in the final two weeks of the session, mandating minimum supply levels to curtail future price spikes. If passed, the first-in-the-nation program would allow the state’s Energy Commission to penalize refiners who fail to follow new supply minimums. The refineries would also have to file plans with the state detailing how they plan to cover production losses when they close for maintenance. The proposal is a continuation of Newsom’s effort to “fight big oil” after gas prices spiked to a record average of $6.44 per gallon in June 2022....