'CA Gas Prices Are Set to Surge Due to Newsom's Latest Failure;
Chevron Exec Says State Is 'Uninvestable''
<https://redstate.com/jenvanlaar/2025/04/18/while-newsom-whines-about-ef >fect-of-trumps-tariffs-refinery-execs-bring-brutal-reality-crashing-down >-n2187948>
'The enormity of the State of California's financial problems is well
known at this point, as is the extremely high (and continually
increasing) cost of living for the state's residents. While Gavin
Newsom is obsessively fixated on Donald Trump and tariffs, Newsom's
own policies are causing even further pain to the state government's
bottom line and people living paycheck to paycheck he supposedly cares
so much about:
Newsom's latest failure is, unsurprisingly, related to Big Oil. As a
result of his relentless attacks on the industry, yet another refinery
is shutting down operations in the state. Earlier this week Valero
gave notice to the California Public Utilities Commission of its
intent to shut down its refinery in Benicia, in the Bay Area, by April
2026, and in a press release announcing the move said it "continues to evaluate strategic alternatives for its remaining operations in
California."
The move is significant because the state currently has only 14
operating refineries, and one of those (Phillips 66's Los Angeles
refinery) is already scheduled to go idle starting in October 2025.
Combined, Valero's Benicia refinery and Phillips 66's Los Angeles
refinery represent 17.5 percent of the state's oil production
capacity. Losing both will hit middle and working-class families hard,
and if Valero follows through on its implied threat of idling its
other refinery in the state (in Wilmington), the state will lose
another 5.24 percent of its current capacity - a total of 369,000
barrels a day.
For perspective, in 1985, when the state had a population of 25
million, there were 40 operating refineries. Even after losing
millions of residents for greener (and redder) pastures, the state has
a population of 39.4 million and soon will have only 12 operating
refineries. Obviously, there's a major supply problem.
It could easily get much worse. Mike Vomund, a top executive with
Chevron, which produces more than 30 percent of the state's oil,
wasn't positive about the company's future in California in an
interview with KCRA on Thursday, saying:
"What happens down the road, I have no idea, I won't speculate on that
. . . We want to stay here; the problem is the policies of California
are making it uninvestable."
In addition to the onerous environmental regulations and refinery
surplus bill, Vomund cited another Sacramento policy as a major
problem for the oil business:
"There's a bill that was passed last year, SB 12, that has a margin
cap possibility on the refining business. You can't make investments
when there's this looming threat that we're gonna come in and tell you
what we believe was an acceptable amount of money for you to make. So
it makes it difficult to impossible to invest in that environment. So
the margin cap needs to go away."
In addition to its own refineries, Chevron operates Valero and
Phillips 66's refineries in the state. If all of these refineries
close, there will also be a major loss of well-paying jobs.
And what's Gavin Newsom's response? Pathetic, as usual.
In the middle of that news clip, Newsom responds to Valero's news by
saying:
I can assure you, beginning last night we had all hands and we're in
the process of addressing any anxiety that may be created or any
market disruption that may be created by that announcement.
How fruitful is that "addressing any anxiety" likely to be? Newsom's
never proven able to negotiate in any way with the oil industry; he
prefers the stick approach over the carrot. (For more about Newsom's inability to understand reality, read: CA Refinery Exec Explains How
State Regulations Affect Gas Supply and Prices So Even Newsom Can Understand.) Much like voters who finally threw up their hands and
left the state when Newsom pushed too far, these companies are at the
point of just leaving the state, out of his jurisdiction.
And, what's with his timing? "Beginning last night?" I'm guessing that
the oil executives weren't recipients of Newsom's "Bat Phones.'
On 18 Apr 2025, John Smyth <smythlejon2@hotmail.com> posted some news:nnm50kppdns8ang95mnpkek7n4fq2k4bq2@4ax.com:
'CA Gas Prices Are Set to Surge Due to Newsom's Latest Failure;
Chevron Exec Says State Is 'Uninvestable''
<https://redstate.com/jenvanlaar/2025/04/18/while-newsom-whines-about-ef >>fect-of-trumps-tariffs-refinery-execs-bring-brutal-reality-crashing-down >>-n2187948>
'The enormity of the State of California's financial problems is well
known at this point, as is the extremely high (and continually
increasing) cost of living for the state's residents. While Gavin
Newsom is obsessively fixated on Donald Trump and tariffs, Newsom's
own policies are causing even further pain to the state government's
bottom line and people living paycheck to paycheck he supposedly cares
so much about:
Newsom's latest failure is, unsurprisingly, related to Big Oil. As a
result of his relentless attacks on the industry, yet another refinery
is shutting down operations in the state. Earlier this week Valero
gave notice to the California Public Utilities Commission of its
intent to shut down its refinery in Benicia, in the Bay Area, by April
2026, and in a press release announcing the move said it "continues to
evaluate strategic alternatives for its remaining operations in
California."
The move is significant because the state currently has only 14
operating refineries, and one of those (Phillips 66's Los Angeles
refinery) is already scheduled to go idle starting in October 2025.
Combined, Valero's Benicia refinery and Phillips 66's Los Angeles
refinery represent 17.5 percent of the state's oil production
capacity. Losing both will hit middle and working-class families hard,
and if Valero follows through on its implied threat of idling its
other refinery in the state (in Wilmington), the state will lose
another 5.24 percent of its current capacity - a total of 369,000
barrels a day.
For perspective, in 1985, when the state had a population of 25
million, there were 40 operating refineries. Even after losing
millions of residents for greener (and redder) pastures, the state has
a population of 39.4 million and soon will have only 12 operating
refineries. Obviously, there's a major supply problem.
It could easily get much worse. Mike Vomund, a top executive with
Chevron, which produces more than 30 percent of the state's oil,
wasn't positive about the company's future in California in an
interview with KCRA on Thursday, saying:
"What happens down the road, I have no idea, I won't speculate on that
. . . We want to stay here; the problem is the policies of California
are making it uninvestable."
In addition to the onerous environmental regulations and refinery
surplus bill, Vomund cited another Sacramento policy as a major
problem for the oil business:
"There's a bill that was passed last year, SB 12, that has a margin
cap possibility on the refining business. You can't make investments
when there's this looming threat that we're gonna come in and tell you
what we believe was an acceptable amount of money for you to make. So
it makes it difficult to impossible to invest in that environment. So
the margin cap needs to go away."
In addition to its own refineries, Chevron operates Valero and
Phillips 66's refineries in the state. If all of these refineries
close, there will also be a major loss of well-paying jobs.
And what's Gavin Newsom's response? Pathetic, as usual.
In the middle of that news clip, Newsom responds to Valero's news by
saying:
I can assure you, beginning last night we had all hands and we're in
the process of addressing any anxiety that may be created or any
market disruption that may be created by that announcement.
How fruitful is that "addressing any anxiety" likely to be? Newsom's
never proven able to negotiate in any way with the oil industry; he
prefers the stick approach over the carrot. (For more about Newsom's
inability to understand reality, read: CA Refinery Exec Explains How
State Regulations Affect Gas Supply and Prices So Even Newsom Can
Understand.) Much like voters who finally threw up their hands and
left the state when Newsom pushed too far, these companies are at the
point of just leaving the state, out of his jurisdiction.
And, what's with his timing? "Beginning last night?" I'm guessing that
the oil executives weren't recipients of Newsom's "Bat Phones.'
There are voting idiots who think there is nothing wrong with this fool.
Newsom is a reactive moron to social media temperatures. That's all
he is.
On 18 Apr 2025, John Smyth <smythlejon2@hotmail.com> posted some news:nnm50kppdns8ang95mnpkek7n4fq2k4bq2@4ax.com:
'CA Gas Prices Are Set to Surge Due to Newsom's Latest Failure;
Chevron Exec Says State Is 'Uninvestable''
<https://redstate.com/jenvanlaar/2025/04/18/while-newsom-whines-about-ef >>fect-of-trumps-tariffs-refinery-execs-bring-brutal-reality-crashing-down >>-n2187948>
'The enormity of the State of California's financial problems is well
known at this point, as is the extremely high (and continually
increasing) cost of living for the state's residents. While Gavin
Newsom is obsessively fixated on Donald Trump and tariffs, Newsom's
own policies are causing even further pain to the state government's
bottom line and people living paycheck to paycheck he supposedly cares
so much about:
Newsom's latest failure is, unsurprisingly, related to Big Oil. As a
result of his relentless attacks on the industry, yet another refinery
is shutting down operations in the state. Earlier this week Valero
gave notice to the California Public Utilities Commission of its
intent to shut down its refinery in Benicia, in the Bay Area, by April
2026, and in a press release announcing the move said it "continues to
evaluate strategic alternatives for its remaining operations in
California."
The move is significant because the state currently has only 14
operating refineries, and one of those (Phillips 66's Los Angeles
refinery) is already scheduled to go idle starting in October 2025.
Combined, Valero's Benicia refinery and Phillips 66's Los Angeles
refinery represent 17.5 percent of the state's oil production
capacity. Losing both will hit middle and working-class families hard,
and if Valero follows through on its implied threat of idling its
other refinery in the state (in Wilmington), the state will lose
another 5.24 percent of its current capacity - a total of 369,000
barrels a day.
For perspective, in 1985, when the state had a population of 25
million, there were 40 operating refineries. Even after losing
millions of residents for greener (and redder) pastures, the state has
a population of 39.4 million and soon will have only 12 operating
refineries. Obviously, there's a major supply problem.
It could easily get much worse. Mike Vomund, a top executive with
Chevron, which produces more than 30 percent of the state's oil,
wasn't positive about the company's future in California in an
interview with KCRA on Thursday, saying:
"What happens down the road, I have no idea, I won't speculate on that
. . . We want to stay here; the problem is the policies of California
are making it uninvestable."
In addition to the onerous environmental regulations and refinery
surplus bill, Vomund cited another Sacramento policy as a major
problem for the oil business:
"There's a bill that was passed last year, SB 12, that has a margin
cap possibility on the refining business. You can't make investments
when there's this looming threat that we're gonna come in and tell you
what we believe was an acceptable amount of money for you to make. So
it makes it difficult to impossible to invest in that environment. So
the margin cap needs to go away."
In addition to its own refineries, Chevron operates Valero and
Phillips 66's refineries in the state. If all of these refineries
close, there will also be a major loss of well-paying jobs.
And what's Gavin Newsom's response? Pathetic, as usual.
In the middle of that news clip, Newsom responds to Valero's news by
saying:
I can assure you, beginning last night we had all hands and we're in
the process of addressing any anxiety that may be created or any
market disruption that may be created by that announcement.
How fruitful is that "addressing any anxiety" likely to be? Newsom's
never proven able to negotiate in any way with the oil industry; he
prefers the stick approach over the carrot. (For more about Newsom's
inability to understand reality, read: CA Refinery Exec Explains How
State Regulations Affect Gas Supply and Prices So Even Newsom Can
Understand.) Much like voters who finally threw up their hands and
left the state when Newsom pushed too far, these companies are at the
point of just leaving the state, out of his jurisdiction.
And, what's with his timing? "Beginning last night?" I'm guessing that
the oil executives weren't recipients of Newsom's "Bat Phones.'
There are voting idiots who think there is nothing wrong with this fool.
Newsom is a reactive moron to social media temperatures. That's all
he is.
| Sysop: | Keyop |
|---|---|
| Location: | Huddersfield, West Yorkshire, UK |
| Users: | 546 |
| Nodes: | 16 (0 / 16) |
| Uptime: | 163:56:32 |
| Calls: | 10,385 |
| Calls today: | 2 |
| Files: | 14,057 |
| Messages: | 6,416,513 |