Last year, a lack of surplus crude oil cost Californians upward of $2 billion while refiners netted $50 billion in profits, Newsom said in a statement.
Newsom's refinery supply mandate will create artificial shortages of fuel in California, Arizona and Nevada by forcing refiners to withhold fuels from the market,' said Catherine Reheis-Boyd.
This proposal ensures the opposite it would require companies to keep supply on hand so they can draw it down during outages, to avoid shortages.
Lawmakers who vote for this mandate will be voting to increase gas costs for their constituents.
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