• U.S. Sens. Alex Padilla (D-California) and Sheldon Whitehouse (D-Rhode Island) reintroduced legislation to crack down on Big Oil taking advantage of Americans at the gas pump and provide relief to consumers, according to a Feb. 16 statement from Padilla’s office. The Big Oil Windfall Profits Tax Act would require large oil companies that produce or import at least 300,000 barrels of oil per day to pay a per-barrel tax equal to 50 percent of the difference between the current price of a barrel of oil and the average price per barrel between 2015 and 2019, a period when big oil companies were already earning large profits. “While the price of oil is decreasing, Big Oil continues to line its pockets at the expense of Californians, who are paying the price at the pump—that is wholly unacceptable,” Padilla said in the statement. “Last year, gas prices in California reached upwards of $5.75 per gallon, squeezing hardworking families. The Big Oil Windfall Profits Tax Act would hold Big Oil companies accountable and deliver much-needed relief to the American people.” Exxon Mobil, Chevron, BP, Shell, and TotalEnergies hauled in pre-tax profits totaling $264.3 billion in fiscal year 2022. Exxon alone reported $77.8 billion in profits in 2022, smashing the earnings record of any American or European oil company. Exxon also announced plans to keep oil production flat for the year ahead. Rival oil giant Chevron—with $49.7 billion in profits—greenlit $75 billion in stock buybacks in 2023 to benefit its executives and shareholders on Wall Street, according to Padilla’s office.
• U.S. Rep. Salud Carbajal (D-Santa Barbara) hosted a forum with local economic development organizations, real estate developers, and Central Coast elected officials to discuss the need for additional housing availability in the region to meet the expected demand coming with a growing commercial space industry at Vandenberg Space Force Base, according to a Feb. 15 statement from Carbajal’s office. The assembled policymakers and stakeholders discussed the need to improve housing availability and affordability for both service members and civilians working with Vandenberg Space Force Base and in the growing commercial space launch industry, which will bring hundreds of new good-paying jobs to the Central Coast in the next decade, according to the congressman’s office. Local officials in attendance included state Sen. Monique Limón, Lompoc Mayor Jenelle Osborne, Santa Maria Mayor Alice Patino, Santa Barbara County Supervisors Joan Hartmann and Bob Nelson, San Luis Obispo County CEO Wade Horton, Santa Barbara County CEO Mona Miyasato, and the city managers for Lompoc and Santa Maria. “The shortage of affordable housing—whether a family is renting or hoping to buy—is nothing short of a crisis in our region,” Carbajal said in opening remarks at the forum. “But Vandenberg is in a unique position. The U.S. commercial launch industry is on the cusp of a 60 to 100 percent increase in launch rates over the next five years, which will bring economic opportunities to our community but it will also strain our housing supply.”
• With more than 1.3 million cubic yards of trash cleared from California highways since 2021, Gov. Gavin Newsom is doubling down on his Clean California Initiative by launching a new funding round for $100 million in grants for local projects, according to a Feb. 15 statement from the governor’s office. Clean California funding is part of a multiyear cleanup effort led by Caltrans to remove trash, transform public spaces, and create thousands of jobs. This new round of funding is open to cities, counties, and other government entities that submit applications before 5 p.m. on April 28. “We’re cleaning up the streets of California like never before in the history of our state. Already, we’ve removed enough trash to fill more than 400 Olympic-size swimming pools—and in the spaces we’ve cleaned, communities are seeing new parklets, neighborhood gateways, and public art that adds to California’s beauty. We’re not stopping until our streets are cleaner and safer because it’s what all Californians deserve,” Newsom said in the statement.
This article appears in Feb 23 – Mar 2, 2023.
