California Assembly Convenes Special Session on Gas Prices

California lawmakers convened a special session to address rising gas prices, initiated by Governor Gavin Newsom's concerns over supply disruptions and price spikes. The Assembly Petroleum and Gasoline Supply Committee, led by Assemblymember Cottie Petrie-Norris, aims to propose legislation requiring oil refineries to maintain minimum fuel reserves to stabilize prices. However, Republican lawmakers have introduced their own bills, arguing that Newsom's plan could lead to fuel shortages and increased prices, while proposing measures like suspending the state gas tax and exempting gas from cap-and-trade regulations. The California Energy Commission has also raised concerns about potential negative impacts on neighboring states from inventory mandates. Despite these opposing views, both parties recognize the urgency of addressing the issue as Californians face significant fuel costs. A hearing on the main legislative proposal is scheduled for September 26, with the Assembly set to convene on October 1.