Futures
Access hundreds of perpetual contracts
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Amid the sharp rise in gasoline prices drawing attention across the United States, California Governor Gavin Newsom is sharply criticizing the government’s response.
Since a military attack on Iran was decided on, oil prices have jumped all at once. Experts are also raising concerns, and no one can predict when prices will settle. Although the administration insists that “stability is just around the corner,” Newsom’s team flatly disputes that.
What Newsom points to is the government’s claim that “if the gas tax is abolished, prices will go down.” This is actually a major misunderstanding. Looking at the case in Florida, the benefit that consumers received during the gasoline tax exemption period has been limited; instead, the result is that only the oil companies’ profits increased.
According to Newsom’s team, Americans are currently being made to pay an average of a little over $0.56 more per gallon at gas stations. Calculated on a weekly basis, that amounts to an added burden of as much as $1.5 billion across the entire country.
Newsom argues that transparency and oversight are important. Policies such as SBX1-2 and ABX1-2 introduced in California are assessed as having created a regulatory framework for oil companies.
Behind these criticisms is also a question about the administration’s series of decisions. Newsom’s team suggests that the decision to attack Iran may be a means to divert the public’s attention from other political debates. It also seems like a strategic move amid escalating controversies within the administration.
Newsom continues to insist that the rise in gasoline prices is not just the result of market mechanisms, but the outcome of policy decisions. Because this is an issue directly affecting people’s everyday lives, the government’s accountability is called into question.