California Proposes Minimum Gas Reserves
This is a Washington news story, published by Yahoo Finance, that relates primarily to Gavin Newsom news.
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barrel Northeast gasoline reserveReuters
•California aims to tackle pump spikes by requiring gas reserves
74% Informative
Governor Gavin Newsom proposed a plan requiring oil refiners to maintain minimum reserves of gasoline in an effort to prevent price spikes.
The plan comes three months after the U.S. Department of Energy sold its 1 million barrel Northeast gasoline reserve, which Washington created after Superstorm Sandy .
Industry has criticized Newsom 's plan as attacking producers.
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