Gov. Joe Lombardo (R-NV) sent a letter to Gov. Gavin Newsom (D-CA) voicing concerns over gas prices in both states while condemning new legislation in the Golden State that Lombardo thinks will further raise fuel prices.
The new legislation aims to impose a cap on oil refineries’ profits that Lombardo says “could lead to refineries either constraining supplies of fuels to avoid a profit penalty or even leaving our shared fuels market entirely.”
“While we have no details on what this might look like, I’m concerned that this approach could lead to refiners either constraining supplies of fuels to avoid a profit penalty or even leaving our shared fuels market entirely,” Lombardo wrote, pointing out that 88% of his state’s fuels are delivered from California via pipeline or truck.
“Either scenario would likely lead to limited supplies and higher fuel costs for consumers
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