Unforced error.
Energy In Depth (5/1/25) reports: "California just got a wake-up call about the real-world consequences of its misguided energy policies. Two major refineries – Phillips 66 in Los Angeles and Valero in Benicia – have announced plans to shut down operations in the coming 12 months, removing nearly one-fifth of California’s in-state fuel production. These closures are a direct response to new refinery mandates signed into law by Gov. Gavin Newsom – and they will lead to even higher gas prices for drivers across California, Arizona, and Nevada. As UC Berkeley Economist Severine Borenstein said: 'California is phasing out its gasoline consumption and refiners see that coming. We should be seriously concerned about how all that gasoline supply is going to get replaced...' In March, Phillips 66 said it would close its Los Angeles-area refinery by the end of 2025. That facility processes 139,000 barrels per day – about 8.6 percent of California’s capacity. Just weeks later, Valero followed suit, announcing plans to shut down its Benicia refinery by April 2026. That plant handles another 145,000 barrels per day – nearly 9 percent of the state’s fuel supply.”
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