Inslee Wants Legislature to Look Into Oil Company “Profiteering”
According to information from Gov. Inslee's office, he will ask legislators to pass legislation looking into what he claims is profiteering by oil companies in WA state.
Inslee's office admits some of the high gas prices from Climate Act
According to The Center Square, during a tour of an elementary school in Brush Prarie, WA recently, Gov. Inslee said he would ask legislators to pass legislation looking into the alleged practice.
Profiteering is the practice of making unusually high profits by selling goods or services at higher prices including during times of emergency.
Neither Inslee nor his office had specific details about why they believe oil companies are taking advantage of consumers (profiteering) but said Senator Joe Nguyen is leading the effort in "crafting it"
Inslee spokesman admits high fuel prices due to climate act
Inslee spokesman Mike Faulk told The Center Square, via email, the Climate Commitment Act (2021) has contributed to some of the increases:
"..the governor doesn’t deny CCA [Climate Commitment Act] has price impacts, but that it’s one piece of a much larger pie."
He went on to claim the allegedly record high profits in our state sound like profiteering to him. Inslee's office and other officials claim oil companies are making a lot more money in our state than in other areas.
However, gas prices in Washington State have risen from $4.65 a gallon one year ago, to $5.05 as of this week, according to AAA Washington. That's an increase of $.40 cents. It is also $1.21 above the national average this week.
Since the carbon auctions began in early 2023, WA gas prices have risen $.75 cents per gallon, according to data from The Washington Policy Center.