Energy: petroleum supply and pricing.

Existing law establishes the State Energy Resources Conservation and Development Commission in the Natural Resources Agency, and specifies the powers and duties of the commission with respect to energy resources in the state. Under existing law, various provisions regulate petroleum supply and pricing. Existing law requires the commission to obtain and analyze monthly production reports prepared by the State Oil and Gas Supervisor under a specific provision. Existing law authorizes the State Lands Commission to enter into oil and gas leases for the extraction and removal of oil and gas deposits on state lands. Existing law requires the leases to include a royalty provision. This bill would, until January 1, 2018, require the State Energy Resources Conservation and Development Commission, or the commission, upon appropriation by the Legislature of moneys generated by the collection of royalty payments from the oil and gas leases, to identify data currently collected or developed by the commission and to establish a methodology to analyze whether fuel price manipulation has occurred or is occurring. The bill would require the commission to establish a Motor Vehicle Fuel Market Advisory Committee, as specified, to review specific data and provide ongoing comments, insight, and recommendations about fuel market behavior and transactions related to potential market manipulation and methods to deter those activities. The bill would require the commission, in consultation with the State Air Resources Board and other relevant state agencies, to include in its integrated energy policy report a one-time report on further legislative recommendations to limit the amount of price volatility and comparative price increase in the California fuel market.