Hey California, maybe if you stop hating on oil companies, they’ll want to stay.
Reuters (7/23/25) reports: "California government officials are trying to find a buyer for Valero Energy's (VLO.N), opens new tab Benicia refinery near San Francisco, three sources familiar with the matter said, an unusual effort as the clock ticks down on the company's planned closure of the facility in April.
The rare attempt by a state government to broker the sale of privately-owned infrastructure reflects its growing concerns over protecting fuel supplies in the most populous U.S. state and keeping a lid on prices, where California's nearly 28 million drivers already pay among the highest prices for gasoline in the country. California's effort to save the refinery from closing also marks a shift from the focus of government policy in recent years to champion green initiatives and restrict fossil fuel usage, that has led to an often tense relationship between the state and oil companies, including the second-largest U.S. refiner by capacity. The state's primary energy and policy planning agency, the California Energy Commission (CEC), has actively sought buyers for the plant, three sources told Reuters, speaking on condition of anonymity to discuss private deliberations."
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