Resolution in Support of a State Windfall Profits Tax on Oil Corporations

DPCCC membership approved the following resolution at the November 17, 2022 regular meeting.

WHEREAS according to the California Energy Commission, while crude oil prices are down, oil companies have increased gas prices in California by a record 84 cents per gallon in just the last month alone, with the average price of gasoline at the pump surging from $5.06 to $6.29 despite the price of oil decreasing from about $100 per barrel to $85 per barrel; and

WHEREAS oil companies and their executives have failed to provide an explanation for the divergence between prices in California compared to the national average and, while spokespeople have blamed it on five refineries temporarily shutting down at the same time, such unplanned maintenance issues have occurred in the past – most recently in September 2019 – without prices at the pump skyrocketing anywhere near this degree; and

WHEREAS on September 30 Governor Newsom called for a windfall profits tax to put record oil profits back in Californians’ pockets;

RESOLVED that the California Democratic Party supports the Governor’s call for a windfall profits tax on oil corporations;  

RESOLVED that the California Democratic Party reaffirms its support of measures that increase access to affordable alternatives to internal combustion engine vehicles, measures such as public transit, and forms of zero-emission multi-modal transportation, and zero-emission vehicles.

Submitted by Nadine Peyrucain, Elected Member, District 5

Author: Igor Tregub, AD15, 510-295-8798, itregub@gmail.com 

Sponsors:

California Democratic Party Regions 5, 6, 7; Igor Tregub, AD 15; Nadine Peyrucain, AD 14; Michele Sutter, AD 61; Pamela Drake, AD 18; Dan Kalb, AD 15; Michael Kapp, AD 46; Leah Herzberg, AD 46; Emily Brandt, AD 23; Libby Frolichman, AD 72; Kate Harrison, AD 15; Andrea Beth Damsky, AD 79; David Atkins, AD 37; Jessica Craven, AD 52; Sean Frame, AD 6; Ianthe Zevos, AD 52; Kathy Dervin, AD 20; Devin T. Murphy, AD 15; Elaine Hagen, AD 5; Sara Roos, AD 54; David Mandel, AD 7; Ruth Carter, AD 12; Wendy Bloom, AD 15; Doris Dent, AD 45; Michael Barnett, AD 15; Loraine Lundquist, AD 45; Jerilyn Stapleton, AD 46

Approved by the Democratic Party of Contra Costa County, November 17, 2022