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Gov. Gavin Newsom (D-CA) on Wednesday slammed President Donald Trump\u2018s Energy Secretary Chris Wright over rising gas prices affecting Americans amid the war with Iran.<\/p>\n
Newsom Calls Chris Wright \u2018Big Oil Shill\u2019<\/p>\n
In a post on X, Newsom\u2019s official Press Office handle delivered sharp criticism of Wright, who was asked why the U.S. was grappling with high fuel costs despite domestic production capabilities. Wright responded by saying that oil is \u201ca global market,\u201d while also saying that prices in the U.S. were lower compared to Europe and Asia.<\/p>\n
\u201cAfter falsely railing for weeks that gas prices will go down if California just drills more in the ocean,\u201d the Press Office\u2019s post said, \u201cBig Oil Shill Wright accidentally admitted the truth: “It’s a global market”,\u201d the post added.<\/p>\n
Don’t Miss:<\/p>\n
The post then urged Wright to \u201ctalk to his boss\u201d about stabilizing gas prices by ending the Iran war. \u201cWe hear that could bring prices down!\u201d the post said.<\/p>\n
WHOOPS. After falsely railing for weeks that gas prices will go down if California just drills more in the ocean, Big Oil Shill Wright accidentally admitted the truth: “It’s a global market”<\/p>\n
Perhaps he should talk to his boss about stabilizing it by ending the Iran war \u2014 we hear\u2026 https:\/\/t.co\/Tk006VnX5H<\/a><\/p>\n \u2014 Governor Newsom Press Office (@GovPressOffice) June 3, 2026<\/a><\/p>\n Sable Offshore Pipeline<\/p>\n The Newsom administration had earlier slammed Trump\u2019s decision to reopen the Sable Offshore Corp pipeline, which, according to the Governor, would put communities as well as California\u2019s $51 billion coastal economy at risk.<\/p>\n Trending: Avoid the #1 Investing Mistake: How Your \u2018Safe’ Holdings Could Be Costing You Big Time<\/a><\/p>\n The pipeline will reportedly supply oil to Chevron. Notably, it was shut down after a 2015 oil spill from the pipeline caused significant damage.<\/p>\n California Gas Prices Surge<\/p>\n On Tuesday, the Newsom administration defended against rising gas prices in California as reports emerged of the state increasing the excise tax on a gallon of gas to $0.634.<\/p>\n The administration said that the rise in taxes was already voted on by residents of the state in 2018, before Newsom took office and that the tax rise was to adjust for inflation.<\/p>\n See Also: Skip the Regrets: The Essential Retirement Tips Experts Wish Everyone Knew Earlier.<\/a><\/p>\n Meanwhile, New York State Attorney General Letitia James, alongside AGs of six other states, sued the Trump administration for a deal with TotalEnergies SE that saw the company abandon clean energy projects in favor of investments in oil and gas.<\/p>\n Gas Prices In The US<\/p>\n Gas prices further fell as the national average price for a gallon on Wednesday was $4.261, according to the American Automobile Association (AAA). Prices in California also fell below the $6\/gallon mark following weeks of high costs, with the average price in the state at $5.993\/gallon on Wednesday.<\/p>\n Photo courtesy: Shutterstock<\/p>\n Read Next: Think you’re saving enough for your kids? You might be dangerously off \u2014 see why<\/a><\/p>\n Building Wealth Across More Than Just the Market<\/p>\n Building a resilient portfolio means thinking beyond a single asset or market trend. Economic cycles shift, sectors rise and fall, and no one investment performs well in every environment. That’s why many investors look to diversify with platforms that provide access to real estate, fixed-income opportunities, precious metals, and even self-directed retirement accounts. By spreading exposure across multiple asset classes, it becomes easier to manage risk, capture steady returns, and create long-term wealth that isn’t tied to the fortunes of just one company or industry.<\/p>\n Arrived<\/p>\n Backed by Jeff Bezos, Arrived Homes makes real estate investing accessible with a low barrier to entry. Investors can buy fractional shares of single-family rentals and vacation homes starting with as little as $100<\/a>. This allows everyday investors to diversify into real estate, collect rental income, and build long-term wealth without needing to manage properties directly.<\/p>\n Vinovest<\/p>\n Fine wine and rare whiskey have historically moved independently of the stock market, making them a compelling alternative asset. Vinovest manages authenticated, insured portfolios of investment-grade wine and whiskey starting at $5,000<\/a> \u2014 sourcing, storage, and insurance all handled for you.<\/p>\n FarmTogether<\/p>\n Farmland has historically held its value through market volatility and delivered returns uncorrelated to stocks and bonds. For accredited investors, FarmTogether offers direct access to high-quality U.S. farmland starting at $15,000<\/a> \u2014 fully managed, with no landlord headaches.<\/p>\n EquityMultiple<\/p>\n For accredited investors looking beyond stocks and bonds, EquityMultiple provides access to vetted commercial real estate deals starting at $5,000,<\/a> with only ~5% of opportunities passing their due diligence process.<\/p>\n Bitcoin IRA\u00a0<\/p>\n