Sacramento - Big Oil made more than $200 billion in profits last year while millions of Californians struggled to make ends meet due to historically high gas prices. Senate Majority Leader Mike McGuire joined an overwhelming number of Senators in passing landmark legislation today that will form a dedicated, year-round independent watchdog division within the California Energy Commission (CEC). The watchdog division will work to ensure transparency and accountability within the oil industry and protect California consumers. In addition, today’s vote will allow the CEC to set a price gouging penalty through a public rulemaking process.

Led by Senate President Atkins, Senators McGuire, Skinner, Bradford, and Limón worked on negotiating the final agreement that was on the Senate floor today that will force Big Oil to play by the rules. Today’s action will help protect consumers from price gouging at the gas pump.

“Let’s be honest, California commuters have been fleeced by Big Oil for far too long. Golden State drivers were paying $2.60 more than the average American commuter at the peak of the spike last fall. It was even higher here on the North Coast,” said Senator McGuire. “Today’s action advances some of the toughest measures in the country to hold Big Oil accountable for price gouging. It also will provide desperately needed transparency along with implementing proactive policies to help stabilize the volatile fuels market.”

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