Governor Gavin Newsom is scheduled to convene a special session to consider a windfall profit tax on oil companies
But some experts are questioning whether such a tax is that truly the long term answer to keep gas prices from spiking in the future.
"This has been tried a few times, and one thing we learned is it's very difficult to design a windfall profit tax that only hits the windfall profits and doesn't discourage the production of the product," said Severin Borenstein with UC Berkeley's Energy Institute at Haas. "What happened earlier this year was a crude oil price increase. There's nothing we can do about that. That market is not in California. That's a world market," he explained."It's hard working a minimum wage job or a job where you don't get paid that much and you're spending your whole paycheck on rent and gas," said Lalita Bock.
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