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flag California delays penalties on oil companies for high profits until 2030 to maintain fuel stability.

flag California energy regulators have temporarily postponed plans to penalize oil companies for excessive profits until 2030, following the closure announcements of two major refineries accounting for about 18% of the state's refining capacity. flag This decision aims to ensure a stable and affordable fuel supply, amid California's high gas prices and ambitious climate change goals. flag The move has been criticized by consumer advocacy groups but supported by the oil industry, which argues high costs and supply constraints necessitate the delay.

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