Latest news with #LosAngeles-area
Time of India
6 hours ago
- Business
- Time of India
California energy regulator recommends pause on plan to penalise excess oil profits
California should pause Gov. Gavin Newsom's plan to penalize oil companies if their profits climb too high, a top energy regulator said Friday while unveiling proposals aimed at addressing high gas prices. The Democratic governor signed a law in 2023 giving the California Energy Commission the authority to penalize oil companies for excess profits, declaring the state had "finally beat big oil." More than two years later, the commission hasn't imposed a single penalty or determined what counts as an excessive profit. Now, Siva Gunda, the energy commission's vice-chair, says the state should pause the effort in favor of pursuing other policies to lower prices and maintain a steady oil supply - all while pushing to phase out reliance on fossil fuels over the next two decades. "Together, we will evolve California's strategy to successfully phase out petroleum-based fuels by 2045 while protecting communities, workers, and consumers, and foster market conditions that support the industry's ability to operate safely, reliably, and successfully to meet demand through the transition," Gunda wrote in a letter to Newsom. Gunda's recommended pause of the penalty would have to be agreed upon by the full commission. Newsom has pitched the penalty as a way to rein in profits by oil companies, but critics said it would only raise prices. California has the highest gas prices in the nation, largely due to taxes and environmental regulations. Regular unleaded gas prices were $4.61 a gallon Friday, compared to a national average of $3.20, according to AAA. The commission still plans to set rules that would require oil refineries to keep a minimum level of fuel on hand to avoid shortages when refineries go offline for maintenance, Gunda said. That proposal came out of a law Newsom signed last year after convening a special session aimed at preventing gas price spikes. Gunda's recommendations come months after Newsom in April directed energy regulators to work with refiners on plans to ensure the state maintains a reliable fuel supply as it transitions away from fossil fuels. Newsom spokesperson Daniel Villasenor said in an email that the governor would review the recommendations and "advance solutions that maintain a safe, affordable, and reliable supply of transportation fuels for California." Two major oil companies announced plans over the past year to shut down refineries in the state, further driving uncertainty about how the state should maintain a stable fuel supply as California transitions toward renewable energy. Phillips 66 announced plans to shut down its Los Angeles-area refinery, and Valero said it would cease operations at its Benicia refinery. The two refineries combined account for more than 17% of the state's refining capacity, according to the energy commission. A group of about 50 environmental and consumer groups penned a letter to Newsom and legislative leaders Friday criticizing the proposal to pause implementing a penalty on oil company profits. "California oil refiners do not need a bailout," they wrote, adding that the state should "finish the job" it started to prevent prices at the pump from spiking.
11 hours ago
- Business
California energy regulator recommends pause on plan to penalize excess oil profits
SACRAMENTO, Calif. -- California should pause Gov. Gavin Newsom's plan to penalize oil companies if their profits climb too high, a top energy regulator said Friday while unveiling proposals aimed at addressing high gas prices. The Democratic governor signed a law in 2023 giving the California Energy Commission the authority to penalize oil companies for excess profits, declaring the state had 'finally beat big oil.' More than two years later, the commission hasn't imposed a single penalty or determined what counts as an excessive profit. Now, Siva Gunda, the energy commission's vice-chair, says the state should pause the effort in favor of pursuing other policies to lower prices and maintain a steady oil supply — all while pushing to phase out reliance on fossil fuels over the next two decades. 'Together, we will evolve California's strategy to successfully phase out petroleum-based fuels by 2045 while protecting communities, workers, and consumers, and foster market conditions that support the industry's ability to operate safely, reliably, and successfully to meet demand through the transition,' Gunda wrote in a letter to Newsom. Gunda's recommended pause of the penalty would have to be agreed upon by the full commission. Newsom has pitched the penalty as a way to rein in profits by oil companies, but critics said it would only raise prices. California has the highest gas prices in the nation, largely due to taxes and environmental regulations. Regular unleaded gas prices were $4.61 a gallon Friday, compared to a national average of $3.20, according to AAA. The commission still plans to set rules that would require oil refineries to keep a minimum level of fuel on hand to avoid shortages when refineries go offline for maintenance, Gunda said. That proposal came out of a law Newsom signed last year after convening a special session aimed at preventing gas price spikes. Gunda's recommendations come months after Newsom in April directed energy regulators to work with refiners on plans to ensure the state maintains a reliable fuel supply as it transitions away from fossil fuels. Newsom spokesperson Daniel Villaseñor said in an email that the governor would review the recommendations and 'advance solutions that maintain a safe, affordable, and reliable supply of transportation fuels for California.' Two major oil companies announced plans over the past year to shut down refineries in the state, further driving uncertainty about how the state should maintain a stable fuel supply as California transitions toward renewable energy. Phillips 66 announced plans to shut down its Los Angeles-area refinery, and Valero said it would cease operations at its Benicia refinery. The two refineries combined account for more than 17% of the state's refining capacity, according to the energy commission. A group of about 50 environmental and consumer groups penned a letter to Newsom and legislative leaders Friday criticizing the proposal to pause implementing a penalty on oil company profits. 'California oil refiners do not need a bailout,' they wrote, adding that the state should 'finish the job' it started to prevent prices at the pump from spiking. ___
Winnipeg Free Press
13 hours ago
- Business
- Winnipeg Free Press
California energy regulator recommends pause on plan to penalize excess oil profits
SACRAMENTO, Calif. (AP) — California should pause Gov. Gavin Newsom's plan to penalize oil companies if their profits climb too high, a top energy regulator said Friday while unveiling proposals aimed at addressing high gas prices. The Democratic governor signed a law in 2023 giving the California Energy Commission the authority to penalize oil companies for excess profits, declaring the state had 'finally beat big oil.' More than two years later, the commission hasn't imposed a single penalty or determined what counts as an excessive profit. Now, Siva Gunda, the energy commission's vice-chair, says the state should pause the effort in favor of pursuing other policies to lower prices and maintain a steady oil supply — all while pushing to phase out reliance on fossil fuels over the next two decades. 'Together, we will evolve California's strategy to successfully phase out petroleum-based fuels by 2045 while protecting communities, workers, and consumers, and foster market conditions that support the industry's ability to operate safely, reliably, and successfully to meet demand through the transition,' Gunda wrote in a letter to Newsom. Gunda's recommended pause of the penalty would have to be agreed upon by the full commission. Newsom has pitched the penalty as a way to rein in profits by oil companies, but critics said it would only raise prices. California has the highest gas prices in the nation, largely due to taxes and environmental regulations. Regular unleaded gas prices were $4.61 a gallon Friday, compared to a national average of $3.20, according to AAA. The commission still plans to set rules that would require oil refineries to keep a minimum level of fuel on hand to avoid shortages when refineries go offline for maintenance, Gunda said. That proposal came out of a law Newsom signed last year after convening a special session aimed at preventing gas price spikes. Gunda's recommendations come months after Newsom in April directed energy regulators to work with refiners on plans to ensure the state maintains a reliable fuel supply as it transitions away from fossil fuels. Newsom spokesperson Daniel Villaseñor said in an email that the governor would review the recommendations and 'advance solutions that maintain a safe, affordable, and reliable supply of transportation fuels for California.' Wednesdays Columnist Jen Zoratti looks at what's next in arts, life and pop culture. Two major oil companies announced plans over the past year to shut down refineries in the state, further driving uncertainty about how the state should maintain a stable fuel supply as California transitions toward renewable energy. Phillips 66 announced plans to shut down its Los Angeles-area refinery, and Valero said it would cease operations at its Benicia refinery. The two refineries combined account for more than 17% of the state's refining capacity, according to the energy commission. A group of about 50 environmental and consumer groups penned a letter to Newsom and legislative leaders Friday criticizing the proposal to pause implementing a penalty on oil company profits. 'California oil refiners do not need a bailout,' they wrote, adding that the state should 'finish the job' it started to prevent prices at the pump from spiking. ___ Austin is a corps member for The Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues. Follow Austin on X: @sophieadanna
Yahoo
4 days ago
- Entertainment
- Yahoo
Brandy and Monica reunite for 'The Boy Is Mine' tour, 27 years later
The once-clashing R&B songstresses Brandy and Monica are back — together. The titans announced their first-ever co-headlining tour, 'The Boy Is Mine,' on Tuesday, paying homage to their 1998 hit of the same name. Kelly Rowland, Muni Long and recent 'American Idol' winner Jamal Roberts are scheduled to appear as special guests along the road. 'This really is a full-circle moment,' Brandy said in a statement to Variety. 'Monica and I coming together again isn't just about the music — it's about honoring where we came from and how far we've both come. 'The Boy Is Mine' was a defining chapter in R&B, and to share the stage all these years later is bigger than a reunion — it's a celebration of growth, sisterhood, and the love our fans have given us from day one.' She added that she recognized the love 'The Boy Is Mine' still received, saying that the song 'means everything to me.' Upon its release, the song spent 13 weeks at No. 1. That was 27 years ago, and though the pair have been on 'different journeys' since, they've come back together to give 'the people what they've been asking for.' 'God's timing perfectly aligned us,' Brandy said. Presale for the tour begins June 26, with general tickets going on sale June 27. The run currently includes one Los Angeles-area show Nov. 9 at the Kia Forum. Brandy and Monica had a widely publicized fallout in 1998. Monica is said to have punched Brandy in the face just before they took the stage at that year's MTV Video Music Awards to perform their hit single. The duo was seen as a monumental combination of '90s talent, with both Brandy and Monica being lauded for their debut records. Brandy had already achieved RIAA platinum status with her self-titled album released in 1994 when she was just 15. "The Boy Is Mine" was an instant hit when it was released four years later, but the VMAs incident seemed to spawn acrimony. Though both would remain in the music industry, Brandy would also pursue an acting career. Her nickname "Vocal Bible" took off following her role as the first African American actor to play Cinderella in a film in 1997. More recently, she starred as a rapper in the ABC drama series "Queens" in 2021. Monica's 1995 debut, "Miss Thang," went platinum when she was 14, but the singer largely remained out of the spotlight following the release of "Code Red" in 2015. She teased a pivot into the country music genre in 2022 with "Open Roads," which she says was produced entirely by 11-time Grammy winner Brandi Carlile. Though she confirmed its completion in 2023, it has yet to be released. After the kerfuffle in 1998, it wouldn't be until 2012 that the two collaborated again on 'It All Belongs to Me' and 11 years more before they worked on a remix of 'The Boy Is Mine' for Ariana Grande. In 2021, Brandy and Monica appeared on 'Verzuz,' a popular webcast series made by Swizz Beatz and Timbaland where two artists pit their best hits against each other. The affair went down smoothly until about 30 minutes in, when Monica spoke of how she had come a long way from 'kicking in doors' and 'smacking chicks,' a (seemingly autobiographical) line from her hit song "So Gone." 'You sure was,' Brandy replied. 'I was one of the ones.' But Monica refuted the quip, claiming, 'People think I'm abusive. That's not what happened.' After a little back and forth, Brandy conceded, 'I'm sorry, I shouldn't have said that … I didn't mean no shade by that.' 'It was a misunderstanding,' Monica replied before moving on, as both singers seemed to have done with the announcement of the upcoming tour. Get notified when the biggest stories in Hollywood, culture and entertainment go live. Sign up for L.A. Times entertainment alerts. This story originally appeared in Los Angeles Times.
Los Angeles Times
4 days ago
- Entertainment
- Los Angeles Times
Brandy and Monica reunite for ‘The Boy Is Mine' tour, 27 years later
The once-clashing R&B songstresses Brandy and Monica are back — together. The titans announced their first-ever co-headlining tour, 'The Boy Is Mine,' on Tuesday, paying homage to their 1998 hit of the same name. Kelly Rowland, Muni Long and recent 'American Idol' winner Jamal Roberts are scheduled to appear as special guests along the road. 'This really is a full-circle moment,' Brandy said in a statement to Variety. 'Monica and I coming together again isn't just about the music — it's about honoring where we came from and how far we've both come. 'The Boy Is Mine' was a defining chapter in R&B, and to share the stage all these years later is bigger than a reunion — it's a celebration of growth, sisterhood, and the love our fans have given us from day one.' She added that she recognized the love 'The Boy Is Mine' still received, saying that the song 'means everything to me.' Upon its release, the song spent 13 weeks at No. 1. That was 27 years ago, and though the pair have been on 'different journeys' since, they've come back together to give 'the people what they've been asking for.' 'God's timing perfectly aligned us,' Brandy said. Presale for the tour begins on June 26, with general tickets going on sale on June 27. The run currently includes one Los Angeles-area show on Nov. 9 at the Kia Forum. Brandy and Monica had a widely publicized fallout in 1998. Monica is said to have punched Brandy in the face just before they took the stage at that year's MTV Video Music Awards to perform their hit single. The duo was seen as a monumental combination of '90s talent, with both Brandy and Monica being lauded for their debut records. Brandy had already achieved RIAA platinum status with her eponymous album released in 1994 when she was just 15. 'The Boy Is Mine' was an instant hit when it was released four years later, but the VMAs incident seemed to spawn acrimony. Though both would remain in the music industry, Brandy would also pursue an acting career. The 'Vocal Bible' took off following her role as the first African American actor to play Cinderella in 1997. More recently, she starred as a rapper in the ABC drama series 'Queens' in 2021. Monica's 1995 debut, 'Miss Thang,' went platinum when she was 14, but the singer largely remained out of the spotlight following the release of 'Code Red' in 2015. She teased a pivot into the country music genre in 2022 with 'Open Roads,' which she says was produced entirely by 10-time Grammy winner Brandi Carlile. Though she confirmed its completion in 2023, it has yet to be released. After the kerfuffle in 1998, it wouldn't be until 2012 that the two collaborated again on 'It All Belongs to Me' and 11 years more before they worked on a remix of 'The Boy Is Mine' for Ariana Grande. In 2021, Brandy and Monica appeared on 'Verzuz,' a popular webcast series made by Swizz Beatz and Timbaland where two artists pit their best hits against each other. The affair went down smoothly until about 30 minutes in, when Monica spoke of how she had come a long way from 'kicking in doors' and 'smacking chicks,' a (seemingly autobiographical) line from her hit song 'So Gone.' 'You sure was,' Brandy replied. 'I was one of the ones.' But Monica refuted the quip, claiming, 'People think I'm abusive. That's not what happened.' After a little back and forth, Brandy conceded, 'I'm sorry, I shouldn't have said that … I didn't mean no shade by that.' 'It was a misunderstanding,' Monica replied before moving on, as both singers seemed to have done with the announcement of the upcoming tour.
