SACRAMENTO, California — The Senate Appropriations Committee on Tuesday approved Gov. Gavin Newsom’s proposal to limit gas price spikes — but not without some grumbling from members about the vague cost analysis.
The committee voted 4-2 along party lines to advance A.B.X. 2-1 from Assemblymember Gregg Hart, which would authorize the California Energy Commission to require refineries to store a certain amount of gasoline. The Newsom administration argues the policy would prevent fuel cost jumps.
The committee’s analysis of the bill didn’t estimate a price tag but said that near-term costs would be “absorbable within existing resources.”
It said there are “unknown, potentially significant one-time costs” for the CEC to determine the “likely benefits” of requiring refiners to maintain a minimum gas supply that “would outweigh potential costs for consumers.” There would also be vague significant costs associated with CEC administration of the new requirements.