In battle with Big Oil, Newsom rips into Valero’s 500% rise in profit amid soaring gas prices. He also warns of the dangers posed by Big Oil’s new gas export laws.
Newsom: “Why can’t you run your trucks on cleaner air?” Valero CEO says he wants to “make gas cheaper than water.”
Newsom: “We can give you a great product. But we can’t give you a decent environment.”
New Gas Laws: “You can’t make money when you get hurt.” Newsom: “Gas mileage has doubled in the last 20 years. Let’s see those numbers. I’ll tell you this: If you keep exporting our products, you are going to have to find a way to move those exports through the pipeline.”
Valero’s 500% Rise: “A lot of people got rich on energy, and we’re the only ones fighting back.”
In recent weeks, Newsom has taken aim at Big Oil and gas producers, demanding more stringent fuel efficiency laws aimed at reducing greenhouse gas emissions. Meanwhile, the governor has signed legislation that opens California’s energy system to a new $10 billion petroleum industry.
To hear him tell it, Big Oil has played a role in California’s energy crisis. “I’ve said from the beginning that there is no question that Big Oil played a role in the problem that the world is facing,” Newsom says.
Last month, Newsom took his case directly to gas consumers in a TV ad, claiming that gas prices are driven by “dirty fuels from abroad.”
But the facts don’t really back up this view.
This isn’t the first time Newsom has taken aim at Big Oil.
During his first term as governor, Newsom and others criticized Valero’s new gas export proposal, a proposal that Newsom called a “major giveaway” to foreign oil companies.
He also slammed the Valero plant near Los Angeles as “not in the California plan.”
And Newsom has made his opposition to the Valero refinery a focal point of his environmental platform. His last legislative initiative, the Climate Action Plan, included a provision that declared it “