‘The Huge Cash Present’ discusses the U.S.-Iran ceasefire and vitality costs as President Donald Trump warns Iran forward of key negotiations.
The U.S. Oil & Gasoline Affiliation (USOGA) fired again at Rep. Ro Khanna, D-Calif., on Saturday evening, rebuking narratives from Democrats within the deep blue state about gasoline costs, which embody excessive state taxes.
“Excessive gasoline costs in your district aren’t ‘Trump’s warfare’ — they’re Sacramento’s doing,” the X account run by USOGA President Tim Stewart wrote in a direct response to Khanna.
“California drivers pay almost double the nationwide common in state taxes, plus cap-and-trade, Low Carbon Gasoline Commonplace, distinctive reformulated gasoline, refinery limits, and geographic isolation that blocks low cost imports,” he added. “That provides $1.00–$1.78+ over the U.S. common.”
Khanna was trying accountable Trump for Saturday’s gasoline costs close to his congressional workplace.
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Rep. Ro Khanna is blaming President Donald Trump for rising gasoline costs, however he desires to tax the oil greater, one thing the U.S. Gasoline & Oil Affiliation says traditionally fails to decrease prices on shoppers. (Pedro Pardo/AFP by way of Getty Photographs)
“Trump’s immoral and reckless warfare in Iran has shot up gasoline costs in my district to just about $6 a gallon,” Khanna wrote in a Saturday X publish, sharing a video of him standing in entrance of a gasoline station value menu in his Santa Clara, California, district, blaming the “unlawful and immoral warfare in Iran.”
“Cease the warfare, cease exporting our crude oil, and move my windfall earnings tax on Huge Oil to provide People a rebate for his or her gasoline payments,” he mentioned.
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Stewart’s X publish additionally rejected Khanna’s requires an additional “windfall earnings tax on Huge Oil,” saying historical past ought to be the information and arguing windfall earnings tax insurance policies traditionally backfire.
“They do not work,” the publish learn. “When you do not name it a windfall earnings tax, California not too long ago handed one and referred to as it a ‘wealth tax’ now you see excessive web price people fleeing your state. Historical past proves it backfires.”
Within the publish, USOGA cited the 1980 federal windfall earnings tax lowered home manufacturing, elevated imports and generated much less income than anticipated earlier than its repeal.
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“Your proposed windfall earnings tax will do nothing to carry reduction to your overtaxed and underappreciated constituents,” he continued. “As a substitute – droop these state-level taxes first and produce California costs consistent with the nationwide common. Put your state forms on a weight loss program. They might stand to shed a number of kilos. Encourage California home oil and gasoline manufacturing and increase your refinery capability as a substitute of shutting it down. Stand as much as your Governor. You already know he’s improper and you’ll be on the appropriate facet of issues.”
Khanna not too long ago reintroduced the Huge Oil Windfall Income Tax Act, framing it as client reduction.
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An indication reveals gasoline costs approaching $8 a gallon at a Mobil station in Los Angeles on Oct. 5, 2023, beneath President Joe Biden. (Patrick T. Fallon/AFP by way of Getty Photographs)
“Your repeated sponsorship of a brand new Huge Oil Windfall Income Tax Act would repeat the very same mistake — shrinking U.S. output and elevating prices,” USOGA’s publish added.
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Stewart’s publish concluded with a warning to finish the warfare on oil and permit capitalism to carry prices down for shoppers.
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“Please cease shifting blame to ‘Trump’s warfare’ or federal coverage whereas California’s personal decisions hold your constituents paying the best pump costs in America,” the publish completed. “Actual reduction comes from extra American provide + streamlined allowing, not recycled Eighties taxes or extra restrictions. Vitality abundance, not rhetoric, lowers costs and bolsters U.S. and allied safety.”
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Vitality Secretary Chris Wright additionally weighed in on the battle for decrease gasoline costs within the high-tax states.
“President Trump obtained elected on an vitality dominance agenda, and he obtained elected to signify 342 million People, each American in each state — together with in California,” Wright wrote on X. “We don’t care what state you’re from; we wish each citizen to have entry to reasonably priced vitality.”
