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Exclusive | Oil exec warns Gavin Newsom's red tape could skyrocket California gas prices

New York Post·Benjamin Brown·26 days ago
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Gas prices will continue to explode in California unless Governor Gavin Newsom can “incentivize” producers to ramp up in-state production, warns oil executive Pat McDonald warned “You could see $10 diesels and $8.50 gasoline,” McDonald, CEO of Carbon Energy Corporation, which operates some of the oldest oil wells in the state , told The California Post.  With the state’s dependency on foreign oil and no clear timeline on when the Strait of Hormuz will reopen, McDonald said the “clock is ticking” to take action and called on Newsom to sign an executive order to ease regulations that have stifled industry growth.  “The Governor can make executive orders to do as much as he can in the near term, crisis management, but then the state legislature needs to recognize that these policies that they’ve enacted are hurting the citizens of California,” he told The Post.   The average gas price in California $6.16, more than $1.50 above the national average according to AAA.…

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