Senator Bradford Statement on Oil Windfall Profits Hearing
Senator Steven Bradford (D-Gardena) released the following statement on Wednesday’s Special Session hearing of the Senate Committee on Energy, Utilities, and Communications on the topic of high gasoline prices and oil industry profits:
“Wednesday’s informational hearing of the Senate Committee on Energy, Utilities, and Communications has been valuable in helping guide our consideration of the many issues and forces affecting gasoline prices. Last October, Californians experienced record retail gasoline prices of $6.40 per gallon. High gasoline prices hurt Californians. That’s undeniable. But as we heard, the complexities of California’s gasoline marketplace are real. For 40 years, the state has attempted to get a handle on understanding the frequent volatility of the market.
“We know California places a high priority on clean air and mandates a special blend of gasoline that requires a more expensive refining process. This process also makes California vulnerable to supply chain disruptions as the state produces its own gasoline.
“As we listened, asked questions, and consider policy solutions during this Special Session, it is imperative that we maintain our focus on the price of gasoline. We must be strong advocates for every Californian who still needs reliable and affordable gasoline. We must also ensure there is greater transparency into the marketplace. Any proposal must shine more light on the process, bring relief at the pump, and, most importantly, not make the situation worse.”
Senator Bradford is Chair of the Senate Committee on Energy, Utilities and Communications, Vice Chair of the California Legislative Black Caucus, and represents the Los Angeles County communities of Carson, Compton, Gardena, Harbor City, Hawthorne, Inglewood, Lawndale, Lennox, San Pedro, Torrance, Watts, Willowbrook, and Wilmington.