Oil Industry Gains Ground in California Regulatory Battle

In a rare win for the oil and gas industry in California, the state’s regulators are expected to delay the enforcement of a cap of refinery profits, Bloomberg reports, citing sources with knowledge of the plans.  The California regulator, the California Energy Commission, plans to vote on Friday a five-year delay to the so-called refinery profit cap, passed in the state in 2023 with the goal to limit spikes at the pump for Californian residents.   Senate Bill X1-2, the California Gas Price Gouging and Transparency Law, was…