Newsom’s windfall tax whirlwind

Gas prices have climbed sharply in California, with Gov. Gavin Newsom calling a special session of the state legislature to consider a windfall profit tax on oil companies in response. POLITICO’s California Playbook author Lara Korte breaks down why prices are increasing in California and the likelihood of a windfall profit tax. Plus, German Chancellor Olaf Scholz sparked controversy on Tuesday by saying that he always knew Russian President Vladimir Putin would weaponize energy, despite Scholz’s past defense of the controversial Nord Stream 2 pipeline. Josh Siegel is an energy reporter for POLITICO. Lara Korte covers state politics and is a co-author of POLITICO California Playbook. Nirmal Mulaikal is a POLITICO audio host-producer. Raghu Manavalan is a senior editor for POLITICO audio. Jenny Ament is the executive producer of POLITICO’s audio department.