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What will be the primary response from oil refineries to California's new gas law by mid-2025?
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Resolution / Starting Odds
Increase in gas prices • 25%
Legal challenges • 25%
Operational adjustments • 25%
No significant response • 25%
Public statements and actions by major oil refineries in California
Story
California Governor Signs Law to Prevent Gas Price Spikes, CARB Votes to Raise Prices by 65 Cents
Oct 14, 2024, 12:30 PM
California Governor Gavin Newsom has signed a new law aimed at preventing gas price spikes by requiring oil refineries to maintain minimum fuel reserves and plan ahead for maintenance outages. The bill, which passed the state Senate with a 23-9 vote and received final approval from the Assembly with a 41-16 vote, is part of Newsom's broader effort to address high fuel costs in the state. Despite the measure's approval, there are concerns that it could lead to higher gas prices, with critics arguing that the new requirements will be costly for refineries to implement. Newsom has defended the legislation, stating that it will provide more tools to hold the oil industry accountable and protect consumers from price gouging. The California Air Resources Board (CARB), appointed by Newsom, has also been involved in recent decisions that could impact gas prices, including a vote to increase prices by 65 cents per gallon.
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CARB Regulations • 25%
Market Fluctuations • 25%
Supply Chain Issues • 25%
Other Factors • 25%
Mostly Positive • 25%
Mostly Negative • 25%
Mixed Opinions • 25%
Indifferent • 25%
Introduce subsidies for low-income families • 25%
Delay the implementation of new standards • 25%
No significant policy change • 25%
Other measures • 25%
Gas prices increase significantly • 25%
Gas shortages occur • 25%
Gas prices stabilize • 25%
No significant impact • 25%
Mostly Supportive • 25%
Mostly Opposed • 25%
Indifferent • 25%
Mixed Reactions • 25%
Significant decrease (more than 10%) • 25%
Moderate decrease (5-10%) • 25%
No significant change • 25%
Increase in prices • 25%
Gasoline prices significantly decrease • 25%
Gasoline prices slightly decrease • 25%
Gasoline prices remain stable • 25%
Gasoline prices increase • 25%
Yes • 50%
No • 50%
Positive • 25%
Negative • 25%
Neutral • 25%
Mixed • 25%
Full compliance • 25%
Partial compliance • 25%
Lobbying against regulations • 25%
Legal action against regulations • 25%
Increased adoption of electric vehicles • 25%
Significant rise in transportation costs • 25%
Minimal economic impact • 25%
Other significant impact • 25%