California's Newsom Wants Refiners to Amass Fuel Stockpiles.

California Governor Gavin Newsom plans to propose legislation that would require oil companies in the state to stockpile gasoline and other fuels in order to prevent supply shortages and price spikes during refinery outages. The governor's plan is aimed at protecting Californians from high pump prices and would have saved consumers up to $650 million last year alone. The proposal comes as part of Newsom's ongoing battle against the fossil fuel industry and follows Chevron's announcement to move its headquarters to Texas. While consumer advocacy groups support the plan, the Western States Petroleum Association views it as a political attack. [Extracted from the article]