Advocates of petroleum regulation have received title and summary and clearance from the Attorney General to gather signatures for their initiative to create an oil regulatory commission in California. The commission's job would be to keep prices "fair and reasonable" and to limit refinery profits to no more than 5 percent. So we want low prices and low profits in the oil industry. I could get into that. Sounds like a good idea. Maybe we should create a Grocery Regulatory Commission too and do the same thing for food. Oh, wait. Wal-Mart has driven prices to rock-bottom, forces its suppliers to trim profits and itself has a profit margin of less than 5 percent. All without a commission giving them marching orders. AND WE HATE THEM FOR IT! Right? Hmmm.
Posted by dweintraub at 4:02 PM
Citizens to Save California, the group of Schwarzenegger allies formed to raise money for his ballot measures this year, has sued to try to overturn an FPPC regulation that limits Schwarzenegger's involvement with the committee. Election Law blogger Rick Hasen has more details here.
Posted by dweintraub at 3:13 PM