October 16 Changes the Microchip Game - and Investing

George Gilder-dubbed "America's #1 Futurist"-says while everyone's chasing AI, the real opportunity is in a 4-nanometer tech millions of times more complex. It's not another chip - it replaces them. Now built in Arizona, Gilder says 3 companies tied to this "super-convergence" could soar.

California Senate passes bill aimed at preventing gas price spikes

SOPHIE AUSTIN
October 11, 2024

SACRAMENTO, Calif. (AP) -- The California state Senate passed a measure Friday to prevent gas prices from spiking in a state where it is notoriously expensive to fill up at the pump.

The proposal, backed by Democratic Gov. Gavin Newsom, would give energy regulators the authority to require that refiners keep a certain amount of fuel on hand. The goal is to try to keep prices from increasing suddenly when refiners go offline for maintenance. Proponents say it would save Californians billions of dollars at the pump.

The bill was inspired by findings from the state's Division of Petroleum Market Oversight, which demonstrated that gas price spikes are largely caused by increases in global crude oil prices and unplanned refinery outages.

State Sen. Nancy Skinner, a Democrat representing Berkeley, said the proposal is about saving money for consumers.

"While global crude prices are not something we can control, a shortage of refined gasoline is something that we can prepare for," she said.

Newsom unveiled the legislation in August, during the last week of the regular legislative session. But lawmakers in the state Assembly said they needed more time to consider it. The governor called the Legislature into a special session to try to pass it.

The bill needs final approval by the state Assembly before it can reach Newsom's desk.

It has received intense pushback from Republican lawmakers, labor groups and the oil industry. Some opponents say it could unintentionally raise overall gas prices and threaten the safety of workers by giving the state more oversight over refinery maintenance schedules. They argued delaying necessary maintenance could lead to accidents.

The Western States Petroleum Association criticized Newsom and the Democratic lawmakers supporting the bill, saying it would not benefit consumers.

"If they were serious about affordability, they'd be working with our industry on real solutions," Catherine Reheis-Boyd, the group's president, said in a statement. "Instead, they're forcing a system they don't understand, and Californians will pay the price."

Californians pay the highest rates at the pump due to taxes and environmental regulations. The average price for regular unleaded gas in the state is about $4.67 per gallon as of Friday, compared to the national average of $3.21, according to AAA.

Republican state Sen. Brian Dahle said there shouldn't have been a special session to weigh the proposal, because the bill does not do anything urgent. The proposal fails to address the state taxes and regulations that contribute to higher gas prices, he said.

"So, who's making the money?" Dahle said. "Who's gouging Californians for every gallon of gas? It's the government."

Last month, governors representing Nevada and Arizona, which import gas from California, sent a letter urging Newsom to reconsider the proposal. They said at the time they were concerned it could increase prices in their states.

It's not the first time Newsom has tried to apply pressure on the Legislature to pass oil and gas regulations. He called a special session in 2022 to pass a tax on oil company profits. The governor then said he wanted a penalty, not a tax. The law he ended up signing months later gave state regulators the power to penalize oil companies for making too much money.

McGuire, a Democrat representing the North Coast, said the bill lawmakers advanced Friday would help address a problem that drastically impacts people's lives.

"Putting mechanisms in place to help prevent costs from spiking and sending family budgets into a tailspin benefits us all, and working together, we've been able to do just that," he said in a statement.

___

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 Twitter: @ sophieadanna

Continue Reading...

Popular

Macron Warns World Will Know By Monday If Putin 'Played' Trump Again

French President Emmanuel Macron has voiced apprehensions about Vladimir Putin potentially manipulating President Trump.

California crew arrested for hundreds of Home Depot thefts worth $10M, police say

VENTURA COUNTY, Calif. (AP) — Southern California authorities say they uncovered a criminal ring that stole $10 million in merchandise from Home Depot over several years, including 600 thefts this year alone, which the company calls the largest organized retail theft in its history.

Is This Elon's Worst Nightmare? - Ad

Elon's empire looks doomed - crashing sales, lost tax credits, and media backlash. But behind the scenes, Tesla is about to unleash a breakthrough Forbes calls a "multi-trillion-dollar opportunity." It's not the end - it's the start of a 25,000% AI comeback.

Mystery surrounds $1.2 billion Army contract to build huge detention tent camp in Texas desert

WASHINGTON (AP) — When last month awarded a contract worth up to $1.2 billion to build and operate what it says will become , it didn’t turn to a large government contractor or even a firm that specializes in private prisons.

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit before Oct 16's bombshell.

New Jersey's massive American Dream mall sued for selling clothes on a Sunday

On any given Sunday, in New Jersey allows visitors to hit an indoor ski slope, surf an artificial wave, ride roller coasters — or shop for a new outfit at dozens of big-name retail stores.

Could You Use Some Instant Cash Upfront? - Ad

Millionaire trader Jeff Clark's #1 income strategy gives you the chance to collect instant cash payouts, as much as $100 to $1,000 upfront! The great part is you can collect these upfront cash payouts without owning a single stock.... Jeff's put all the details in a special briefing titled Infinite Income Manifesto.

Super Micro Computer (SMCI) Shares Are Sliding Tuesday: What's Going On?

Super Micro Computer shares are trading lower Tuesday. The stock is caught in a downdraft affecting the broader semiconductor and high-growth technology sectors.

Trump fires Democratic member of Surface Transportation Board ahead of huge rail merger decision

President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie before the body considers the ever proposed.

Scarcity Meets Momentum - Ad

With insiders and institutions holding most of the float, just 9.7M shares are truly available. New contracts could ignite moves that Wall Street can't ignore.

Jim Cramer Refuses To Chase Rally—Says 'We Sure Aren't Buying' Unless It's Discounted

Jim Cramer is sitting out the current market rally, citing excessive intervention, overbought conditions as key reasons to remain cautious.

What's Going On With Dell Stock Thursday?

Dell Technologies Inc. (NYSE:DELL) is in the spotlight Thursday ahead of its second quarter earnings report today after the market closes.

The Next Palantir Moment Could Be Here - Ad

A $21M market cap company is landing multimillion-dollar contracts with banks and governments. With only 9.7M shares in the float, scarcity could spark explosive moves.

What to know about Cracker Barrel's logo misfire and what could happen next

Like its namesake barrels that transported soda crackers until boxes replaced them, needed to change.

Trump Says Discrimination Against American Tech Giants 'Must End' Now: Warns China And EU, 'Show Respect…Or Consider The Consequences'

The Trump administration is considering unprecedented visa sanctions on EU officials over the Digital Services Act, escalating U.S.-EU tensions with accusations that the law unfairly targets American tech companies and restricts free speech.

The Roadmap to $100M+ Revenue - Ad

Recurring deals, Tier-1 banks, and expansion into new markets put this company on track to triple revenue by 2026. Yet the market cap is still just $21M.

Roblox Prepares Massive Age Verification Rollout That Parents Need To Know About

Roblox to expand age estimation technology to all users by year-end, using facial recognition, ID verification & parental consent for safety.

Cracker Barrel relents, says its old logo will return

Cracker Barrel said late Tuesday it's returning to its old logo after critics — including President Donald Trump — protested the company's plan to modernize.

The AI Blind Spot in Banking - Ad

Banks thought AI would solve compliance. Instead, it's made the problem worse. One breakthrough platform is cutting costs in half while securing every flow.

Trump admin cancels $679 million for offshore wind projects as attacks on reeling industry continue

WASHINGTON (AP) — The Transportation Department on Friday canceled $679 million in federal funding for a dozen offshore wind projects, the latest attack by the Trump administration on the reeling U.S. offshore wind industry.

Trump administration appeals ruling blocking him from firing Federal Reserve Gov. Cook

WASHINGTON (AP) — President Donald Trump's administration on Wednesday appealed a ruling blocking him from firing Federal Reserve Gov. as he seeks more control over the traditionally independent board.

The $25M Contract Nobody Is Talking About - Ad

One deal alone covers the entire valuation of this overlooked stock. And more contracts are already stacking up in Europe and the US.

Sycamore Partners finishes deal to take drugstore chain Walgreens private

DEERFIELD, Ill. (AP) — The by a private equity firm is complete, ending the drugstore chain’s run as a publicly traded company.

OpenAI and Meta say they're fixing AI chatbots to better respond to teens in distress

SAN FRANCISCO (AP) — Artificial intelligence chatbot makers OpenAI and Meta say they are adjusting how their chatbots respond to teenagers and other users asking questions about suicide or showing signs of mental and emotional distress.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50. - Ad

The AI company making heart disease easier to detect is offering investors $3.50 investment units that include one convertible preferred share and one warrant, providing investors with access to 2 common shares. Based on analyst 1- year projections, that amounts to a near-term 500% return potential.

Why Quantum Computing (QUBT) Stock Is Getting Crushed Today

Shares of Quantum Computing are caught in a broader market selloff Tuesday. Rising U.S. Treasury yields spook investors away from growth sectors.

Stock Of The Day: Breakdown In Archer Aviation?

Shares of Archer Aviation have broken a support level. This can be bearish and would suggest they trend lower.

October 16 Changes the Microchip Game - and Investing - Ad

George Gilder-dubbed "America's #1 Futurist"-says while everyone's chasing AI, the real opportunity is in a 4-nanometer tech millions of times more complex. It's not another chip - it replaces them. Now built in Arizona, Gilder says 3 companies tied to this "super-convergence" could soar.

Microsoft resolves European Union probe into Teams

LONDON (AP) — European Union regulators have accepted Microsoft's to Teams, resolving a long-running antitrust investigation that targeted the company's messaging and videoconferencing app.

Trump Warns Foreign Chipmakers: Build In US Or 'We Will Be Putting A Very Substantial Tariff'

President Donald Trump on Thursday said his administration would soon impose tariffs on semiconductor imports from companies that have not committed to shifting production to the United States.

Is This Elon's Worst Nightmare? - Ad

Elon's empire looks doomed - crashing sales, lost tax credits, and media backlash. But behind the scenes, Tesla is about to unleash a breakthrough Forbes calls a "multi-trillion-dollar opportunity." It's not the end - it's the start of a 25,000% AI comeback.

Cathie Wood's Ark Pivots: Sells Tempus AI After FDA Win, Loads Up On Amazon, Figma And This Trendy Crypto Stock

Cathie Wood-led Ark Invest sold shares of Tempus AI, bought Bullish, Amazon, and Figma. The moves align with recent achievements and advancements of the companies.

Artificial intelligence helps break barriers for Hispanic homeownership

For many Hispanics the road to homeownership is filled with obstacles, including loan officers who don’t speak Spanish or aren't familiar with buyers who may not fit the boxes of a traditional mortgage applicant.

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit before Oct 16's bombshell.

Sikh truckers see spike in anti-immigrant vitriol after deadly Florida crash

Members of California’s Sikh trucking community say a deadly crash involving one of its own, which triggered heated national , has led to a spike in anti-Sikh rhetoric.

Bitcoin Recovers Amid Trump's Potential Fed Majority; Ethereum, Dogecoin, XRP Also Gain; Analyst Expects ETH To Consolidate In This Range

Leading cryptocurrencies rebounded Tuesday amid increased expectations of a rate cut following Federal Reserve Governor Lisa Cook’s removal and President Donald Trump getting a potential majority on the central bank’s board.

Could You Use Some Instant Cash Upfront? - Ad

Millionaire trader Jeff Clark's #1 income strategy gives you the chance to collect instant cash payouts, as much as $100 to $1,000 upfront! The great part is you can collect these upfront cash payouts without owning a single stock.... Jeff's put all the details in a special briefing titled Infinite Income Manifesto.

Putin says foreign troops deployed to Ukraine before any peace deal would be 'legitimate targets'

Russian President said Friday that any foreign troops deployed to Ukraine before a peace agreement has been signed would be considered “legitimate targets” by Moscow's forces.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright smartmoneytrading.net
Privacy Policy | Terms of Service