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KPAY News

Gov Signs Bill to watch Oil Companies Profits

California Gov. Gavin Newsom - who recently called the oil industry the second most powerful force on earth - signed a new law that gives state regulators the power to penalize oil companies for making too much money, the first of its kind in the country. It’s the type of legislation the oil industry might have crushed in the past. But on Monday, the bill cleared the state Assembly with only one Democrat voting against it…