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HOLDS BIG OIL ACCOUNTABLE FOR PRICE GOUGING: Authorizes the CEC via a public rulemaking process to impose a civil penalty on refiners who have engaged in price gouging.
2. NEW WATCHOG TO DETER BIG OIL FROM RIPPING OFF CALIFORNIANS: A new division staffed by experts will keep watch on oil markets with its own subpoena power and investigation authority.
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3. MANDATES TRANSPARENCY AND REPORTING TO FORCE OIL COMPANIES TO PLAY BY THE RULES: Enhances the CEC and CDTFA’s authority to enforce transparency and accountability measures into the “mystery gasoline surcharge.”
