In response to escalating fuel prices, California Gov. Gavin Newsom appointed antitrust prosecutor Tai Milder to lead the newly established Division of Petroleum Market Oversight, marking a new chapter in oil industry regulation.
"California is serious about holding Big Oil accountable. Tai Milder has an impressive record of going after companies that rip off consumers, and that's exactly what he'll be doing – serving as a watchdog over the oil and gas industry and protecting Californians," Newsom said in an Aug. 1 news release.
This appointment underscores Newsom's aggressive approach toward tackling escalating fuel prices that have impacted California residents significantly over the past year. According to YCharts, fuel prices peaked at more than $6 a gallon, creating a strain on consumers and businesses alike.
According to the release, the DPMO created as a key component of Newsom's gas price gouging law, approved during a special session of the legislature earlier this year and implemented in June. The division is charged with monitoring the oil industry on a daily basis to identify any irregular or illegal activities. Any violations, including misconduct or market manipulation by industry players, will be referred to the attorney general for prosecution.
Before his new appointment, Milder served the U.S. Department of Justice's Antitrust Division as Counsel to the Assistant Attorney General, the release reported.
"I'm looking forward to leading the nation's first independent oil and gas watchdog. Transparency and accountability are essential to protecting California consumers and those principles will guide the work of this division every day," Milder said in the release.
The creation of the DPMO and the appointment of Milder signal the state's intensified efforts to combat price gouging in the oil industry. The release emphasized it is a development being closely watched by other states facing similar concerns and potentially marks a new chapter in how the oil and gas industry is regulated in the United States.
