California Governor Gavin Newsom delivers his annual State of the State address in Sacramento, California. AP
California Governor Gavin Newsom delivers his annual State of the State address in Sacramento, California. AP
California Governor Gavin Newsom delivers his annual State of the State address in Sacramento, California. AP
California Governor Gavin Newsom delivers his annual State of the State address in Sacramento, California. AP

California governor calls for petrol tax rebate amid record prices at pump


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California Governor Gavin Newsom proposed sending money back to taxpayers to offset high petrol prices but rejected calls to increase oil drilling, saying he wants to free the state “once and for all from the grasp of petro-dictators".

The average price for a gallon of gas in California is the nation's highest at $5.44, said the American Automobile Association — a number that is likely to increase after President Joe Biden banned Russian oil imports on Tuesday in response to the country's invasion of Ukraine.

Mr Newsom's proposal, announced during his annual State of the State address, would likely come in the form of a tax rebate. But the governor gave no specifics, saying he will work with legislative leaders "to put money back in the pockets of Californians to address rising gas prices".

Dee Dee Myers, Mr Newsom's senior adviser, told reporters the rebate would likely total in the billions of dollars and be limited to people who have a car. People who are living in the country illegally would also be eligible for the rebate, which could occur as soon as this spring.

In a wide-ranging address, Mr Newsom also said that authoritarianism is not only rising overseas, using his election-year speech to offer “a California Way” as the antidote to what he called the "agents of a national anger machine".

Mr Newsom, a Democrat who handily beat back a midterm recall campaign last year, also touted his administration’s progress on homelessness, the economy, education and climate change in a speech to assembled politicians in an auditorium near the state Capitol.

By contrast, last year’s speech was delivered outdoors in an empty Dodger Stadium, which was being used as a mass-testing site for Covid-19.

This year, coronavirus case numbers and hospital admissions are plummeting and the nation's attention is drawn to the Russian invasion of Ukraine and the accompanying spiralling petrol prices.

Republicans nationally and in California want to see the Biden administration increase drilling but Mr Newsom rejected that call.

“Drilling even more oil,” he said, “only leads to even more extreme weather, more extreme drought, more wildfire.”

As he did throughout the speech, Mr Newsom offered “California’s leadership” as the alternative, calling clean energy "this generation’s greatest economic opportunity".

California is one of the nation's most oil-rich states and Republicans, who are a small minority in the state legislature and hold no statewide offices, see high petrol prices as an election year issue they can exploit.

The state taxes petrol at 51.1 cents per gallon, second only to Pennsylvania, the Federation of Tax Administrators reported.

"Gas prices are out of control. Let's suspend the gas tax, stop using foreign oil and focus on energy independence policies that don't place new burdens on working families," assembly member Suzette Martinez Valladares said in the Republican "prebuttal" to Mr Newsom's speech.

Mr Newsom has also proposed pausing a slight increase in the state petrol tax scheduled to take effect this summer. But Democratic leaders in the legislature have balked at that proposal, arguing it would make it harder to maintain the state’s roads while only providing barely noticeable relief at the pump.

Assembly Republican Leader James Gallagher said his party, while critical of Mr Newsom in other areas, can work with him on the tax rebate.

“If we have nearly a $60 billion surplus in the state, it means that people are overtaxed and we should be giving the voters and citizens of this state back some of their money, especially in the trying times that we're in when the cost of living is through the roof,” Mr Gallagher said.

Mr Newsom has ordered the state to ban the sale of new petrol-powered cars by 2035 and halt all in-state oil drilling by 2045.

He also punched back at Republicans blaming Democratic policies for rising crime, saying California is funding increased crime-fighting efforts but will not “revert to heavy-handed policies that have marked the failures of the past".

Democracy is in danger, Mr Newsom said, speaking on a national scale.

“While we might not have strongmen literally waging war in our country, we are plagued by agents of a national anger machine, fuelling division, weaponising grievance,” he said. “Powerful forces and loud voices — stoking fear and seeking to divide us, weakening the institutions of our democracy.”

Polls routinely show homelessness as one of the most pressing issues for California voters. The state has the largest homeless population in the nation and Mr Newsom has budgeted a record $12bn for various programs and initiatives but encampments still proliferate.

In his speech, Mr Newsom touted his plan unveiled last week to create new Care Courts in each county that could force those with mental health issues off the street and into treatment.

THE SIXTH SENSE

Starring: Bruce Willis, Toni Collette, Hayley Joel Osment

Director: M. Night Shyamalan

Rating: 5/5

COMPANY%20PROFILE
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RESULT

Al Hilal 4 Persepolis 0
Khribin (31', 54', 89'), Al Shahrani 40'
Red card: Otayf (Al Hilal, 49')

Most%20polluted%20cities%20in%20the%20Middle%20East
%3Cp%3E1.%20Baghdad%2C%20Iraq%3Cbr%3E2.%20Manama%2C%20Bahrain%3Cbr%3E3.%20Dhahran%2C%20Saudi%20Arabia%3Cbr%3E4.%20Kuwait%20City%2C%20Kuwait%3Cbr%3E5.%20Ras%20Al%20Khaimah%2C%20UAE%3Cbr%3E6.%20Ash%20Shihaniyah%2C%20Qatar%3Cbr%3E7.%20Abu%20Dhabi%2C%20UAE%3Cbr%3E8.%20Cairo%2C%20Egypt%3Cbr%3E9.%20Riyadh%2C%20Saudi%20Arabia%3Cbr%3E10.%20Dubai%2C%20UAE%3C%2Fp%3E%0A%3Cp%3E%3Cem%3ESource%3A%202022%20World%20Air%20Quality%20Report%3C%2Fem%3E%3C%2Fp%3E%0A
MOST%20POLLUTED%20COUNTRIES%20IN%20THE%20WORLD
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Earth under attack: Cosmic impacts throughout history

4.5 billion years ago: Mars-sized object smashes into the newly-formed Earth, creating debris that coalesces to form the Moon

- 66 million years ago: 10km-wide asteroid crashes into the Gulf of Mexico, wiping out over 70 per cent of living species – including the dinosaurs.

50,000 years ago: 50m-wide iron meteor crashes in Arizona with the violence of 10 megatonne hydrogen bomb, creating the famous 1.2km-wide Barringer Crater

1490: Meteor storm over Shansi Province, north-east China when large stones “fell like rain”, reportedly leading to thousands of deaths.  

1908: 100-metre meteor from the Taurid Complex explodes near the Tunguska river in Siberia with the force of 1,000 Hiroshima-type bombs, devastating 2,000 square kilometres of forest.

1998: Comet Shoemaker-Levy 9 breaks apart and crashes into Jupiter in series of impacts that would have annihilated life on Earth.

-2013: 10,000-tonne meteor burns up over the southern Urals region of Russia, releasing a pressure blast and flash that left over 1600 people injured.

Our family matters legal consultant

 

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

MATCH INFO

Juventus 1 (Dybala 45')

Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')

Red card: Rodrigo Bentancur (Juventus)

((Disclaimer))

The Liechtensteinische Landesbank AG (“Bank”) assumes no liability or guarantee for the accuracy, balance, or completeness of the information in this publication. The content may change at any time due to given circumstances, and the Liechtensteinische Landesbank AG is under no obligation to update information once it has been published. This publication is intended for information purposes only and does not constitute an offer, a recommendation or an invitation by, or on behalf of, Liechtensteinische Landesbank (DIFC Branch), Liechtensteinische Landesbank AG, or any of its group affiliates to make any investments or obtain services. This publication has not been reviewed, disapproved or approved by the United Arab Emirates (“UAE”) Central Bank, Dubai Financial Services Authority (“DFSA”) or any other relevant licensing authorities in the UAE. It may not be relied upon by or distributed to retail clients. Liechtensteinische Landesbank (DIFC Branch) is regulated by the DFSA and this advertorial is intended for Professional Clients (as defined by the DFSA) who have sufficient financial experience and understanding of financial markets, products or transactions and any associated risks.

SRI LANKA SQUAD

Upul Tharanga (captain), Dinesh Chandimal, Niroshan Dickwella
Lahiru Thirimanne, Kusal Mendis, Milinda Siriwardana
Chamara Kapugedara, Thisara Perera, Seekuge Prasanna
Nuwan Pradeep, Suranga Lakmal, Dushmantha Chameera
Vishwa Fernando, Akila Dananjaya, Jeffrey Vandersay

What it means to be a conservationist

Who is Enric Sala?

Enric Sala is an expert on marine conservation and is currently the National Geographic Society's Explorer-in-Residence. His love of the sea started with his childhood in Spain, inspired by the example of the legendary diver Jacques Cousteau. He has been a university professor of Oceanography in the US, as well as working at the Spanish National Council for Scientific Research and is a member of the World Economic Forum’s Global Future Council on Biodiversity and the Bio-Economy. He has dedicated his life to protecting life in the oceans. Enric describes himself as a flexitarian who only eats meat occasionally.

What is biodiversity?

According to the United Nations Environment Programme, all life on earth – including in its forests and oceans – forms a “rich tapestry of interconnecting and interdependent forces”. Biodiversity on earth today is the product of four billion years of evolution and consists of many millions of distinct biological species. The term ‘biodiversity’ is relatively new, popularised since the 1980s and coinciding with an understanding of the growing threats to the natural world including habitat loss, pollution and climate change. The loss of biodiversity itself is dangerous because it contributes to clean, consistent water flows, food security, protection from floods and storms and a stable climate. The natural world can be an ally in combating global climate change but to do so it must be protected. Nations are working to achieve this, including setting targets to be reached by 2020 for the protection of the natural state of 17 per cent of the land and 10 per cent of the oceans. However, these are well short of what is needed, according to experts, with half the land needed to be in a natural state to help avert disaster.

U19 WORLD CUP, WEST INDIES

UAE group fixtures (all in St Kitts)
Saturday 15 January: v Canada
Thursday 20 January: v England
Saturday 22 January: v Bangladesh

UAE squad
Alishan Sharafu (captain), Shival Bawa, Jash Giyanani, Sailles Jaishankar, Nilansh Keswani, Aayan Khan, Punya Mehra, Ali Naseer, Ronak Panoly, Dhruv Parashar, Vinayak Raghavan, Soorya Sathish, Aryansh Sharma, Adithya Shetty, Kai Smith

The Good Liar

Starring: Helen Mirren, Ian McKellen

Directed by: Bill Condon

Three out of five stars

MATCH INFO

Manchester City 0

Wolves 2 (Traore 80', 90 4')

At a glance

Fixtures All matches start at 9.30am, at ICC Academy, Dubai. Admission is free

Thursday UAE v Ireland; Saturday UAE v Ireland; Jan 21 UAE v Scotland; Jan 23 UAE v Scotland

UAE squad Rohan Mustafa (c), Ashfaq Ahmed, Ghulam Shabber, Rameez Shahzad, Mohammed Boota, Mohammed Usman, Adnan Mufti, Shaiman Anwar, Ahmed Raza, Imran Haider, Qadeer Ahmed, Mohammed Naveed, Amir Hayat, Zahoor Khan

The specs

Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder

Power: 220 and 280 horsepower

Torque: 350 and 360Nm

Transmission: eight-speed automatic

Price: from Dh136,521 VAT and Dh166,464 VAT 

On sale: now

Cultural fiesta

What: The Al Burda Festival
When: November 14 (from 10am)
Where: Warehouse421,  Abu Dhabi
The Al Burda Festival is a celebration of Islamic art and culture, featuring talks, performances and exhibitions. Organised by the Ministry of Culture and Knowledge Development, this one-day event opens with a session on the future of Islamic art. With this in mind, it is followed by a number of workshops and “masterclass” sessions in everything from calligraphy and typography to geometry and the origins of Islamic design. There will also be discussions on subjects including ‘Who is the Audience for Islamic Art?’ and ‘New Markets for Islamic Design.’ A live performance from Kuwaiti guitarist Yousif Yaseen should be one of the highlights of the day. 

WORLD'S%2010%20HIGHEST%20MOUNTAINS
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Multitasking pays off for money goals

Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.

That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.

"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.

Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."

People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.

"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
UAE currency: the story behind the money in your pockets
Updated: March 09, 2022, 6:50 PM`