This week, we’re continuing a recent Organized Money conversation in order to answer the question: Why is California’s gasoline so damn expensive? Famously, California has higher fuel standards than the rest of the nation, as well as higher gas taxes, but that’s only one part of a much more complex pricing picture.

Read: California Gas Prices Are Up, and It’s Not Just the War

Today on the show, we welcome Tai Milder, the inaugural director of a new division within the California Energy Commission that regulates oil and gas. He is also an antitrust veteran at the U.S. Department of Justice and the California Department of Justice. Tai helps us complete the picture, explaining how taxes and regulation contribute to prices, but also the outsized effects that pipelines, consolidation, refining, and franchising have on the prices consumers pay at the pump.

Listen via Apple, Spotify, or wherever you get your podcasts.

David Dayen is the executive editor of The American Prospect. He is the author of Monopolized: Life in the Age of Corporate Power and Chain of Title: How Three Ordinary Americans Uncovered Wall Street’s Great Foreclosure Fraud. He co-hosts the podcast Organized Money with Matt Stoller. He can be reached on Signal at ddayen.90.

Matt Stoller is research director at the American Economic Liberties Project and the author of Goliath: The 100-Year War Between Monopoly Power and Democracy.