The ‘Big Money Show’ discusses the US-Iran standoff and energy prices as President Donald Trump warns Iran ahead of key talks.
The US Oil & Gas Association (USOGA) responded to Rep. Ro Khanna, D-Calif., on Saturday night, reprimanded the news from Democrats in a deep blue state about gas prices, including the state’s highest taxes.
“High gas prices in your state are not ‘Trump’s war’ – it’s done by Sacramento,” the X account run by USOGA President Tim Stewart wrote in direct response to Khanna.
“California drivers pay nearly twice the national average in state taxes, along with cap-and-trade, the Low Carbon Fuel Standard, unique recycled fuel, refinery restrictions, and geographic segregation that prevent the purchase of cheap fuel,” he added. “That adds $1.00–$1.78+ above the US average.”
Khanna was trying to blame Trump for Saturday’s gas prices near his congressional office.
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Attorney Ro Khanna blames President Donald Trump for rising gas prices, but wants to impose higher taxes on oil, something the US Gas & Oil Association says has historically failed to lower costs for consumers. (Pedro Pardo/AFP via Getty Images)
“Trump’s immoral and reckless war on Iran has raised gas prices in my state by almost $6 a gallon,” Khanna wrote in a Saturday X post, sharing a video of himself standing in front of a gas station price menu in his home state of Santa Clara, California, denouncing the “illegal and immoral war on Iran.”
“Stop the war, stop exporting our crude oil, and pass my zero-income tax on Big Oil to give the American people a discount on their gas bills,” he said.
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Stewart X’s post also dismissed Khanna’s calls for a “soft tax on Big Oil,” saying that history should be a guide and that corporate tax policies are the result of history.
“They don’t work,” the text reads. “Even if you don’t call it a windfall tax, California recently passed one and called it a ‘wealth tax’ and now you’re seeing huge numbers of people fleeing your country. History proves that backfires.”
In the post, USOGA cited the federal corporate income tax of 1980 that reduced domestic production, increased imports and generated less revenue than expected before its repeal.
California gubernatorial candidate Steve Hilton has the latest on rising prices on ‘The Bottom Line.’
GAS PRICES CONTINUED, RUSHING AMERICANS AND GIVING GOP NEW DOMESTIC PAIN
“The proposed tax on windfall profits will do nothing to bring relief to your overtaxed and undervalued members,” he continued. “Instead – stop those state level taxes first and bring California’s prices in line with the national average. Put your state bureaucracy on food. They can oversee shedding a few pounds. Encourage California’s domestic oil and gas production and increase your refining capacity instead of closing it. Stand up to your Governor. You know you’re wrong and you can be on the right side of things.”
Khanna recently re-introduced the Big Oil Windfall Profits Tax Act, framing it as a consumer relief measure.
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A sign shows gas prices approaching $8 a gallon at a Mobil station in Los Angeles on Oct. 5, 2023, under President Joe Biden. (Patrick T. Fallon/AFP via Getty Images)
“Your repeated funding of the Big Oil Windfall Profits Tax Act would repeat exactly the same mistake – reducing US output and raising costs,” the USOGA post added.
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Stewart’s text concludes with a warning to end the oil war and allow capitalism to lower costs for consumers.
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“Please stop criticizing ‘Trump’s war’ or federal policy while California’s election keeps your people paying the highest pump prices in America,” the post concluded. “The real relief comes from more American supplies + easier concessions, not re-imposed 1980 tariffs or more restrictions. More power, not propaganda, lowers prices and strengthens US and allied security.”
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Energy Secretary Chris Wright has also joined the fight to lower gas prices in high-tax states.
“President Trump was elected to power, and he was elected to represent 342 million Americans, every American in every state – including California,” Wright wrote in X. “We don’t care what state you come from; we want every citizen to have access to affordable energy.”
