California has money problems. The whole world knows California has money problems. Our current Governor and legislature is having difficulties with a frightful deficit that keeps on growing.
I learned today that California is the only state out of 52 that doesn't tax oil company producers within its own borders.
Other states raise billions on an industry that has made obscene profits and has enjoyed much favoritism from our Federal and State Governments.
When other states tax the producers, they write into the law a clause that the taxes cannot be passed on at the pump to the consumer.
The oil companies have just backed off refining more oil creating a shortage and the price of gas averaged an increase of 18 cents per gallon at the pump over the last two weeks. California has some of the most expensive gas in the country.
What's wrong with this picture?
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