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Posted on 12/18/2025 2:22:51 PM PST by Signalman
Chevron, Valero and Phillips 66 leaving/closing down.
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Oregon and Washington will suffer this loss plus the closure of Valero’s California refinery too.
Summary
The transcript criticizes California Governor Gavin Newsom's environmental and energy policies, describing them as a self-inflicted disaster driving major oil companies out of the state. It highlights Chevron's announcement to relocate its headquarters from California to Houston, Texas, after over 140 years, with CEO Mike Wirth citing high taxes, excessive regulations, and a difficult business environment that impacts retaining engineers.
Valero is reported to be closing its Benicia refinery by April 2026, accepting a $1 billion loss rather than comply with state mandates, resulting in job losses, a 20% budget hit to Benicia, and potential gas supply issues. Phillips 66 is shutting down its Los Angeles refinery by the end of December 2025, eliminating 139,000 barrels per day of fuel production. Combined, these closures are said to remove nearly 20% of California's gasoline refining capacity within a year.
California's policies mentioned include cap-and-trade requiring carbon emissions allowances, a unique gasoline blend mandate isolating the state from national markets, and legislation capping refinery profit margins. The state lacks pipelines to other U.S. refineries, and the federal Jones Act restricts domestic shipping to U.S.-flagged vessels, limiting imports from places like Texas.
As a result, the transcript claims California will rely on imported fuel from countries like Saudi Arabia, South Korea, and India via long-haul tankers, increasing emissions and vulnerability to disruptions. It predicts gas prices rising to $8.43 per gallon by summer 2026, affecting California and neighboring states (88% of Nevada's gas and 33% of Arizona's come from California refineries).
The piece contrasts this with economic growth in red states like Texas and Florida, noting corporate relocations (e.g., Chevron to Texas), resident migration from blue states (California lost nearly 250,000 residents in 2023-2024), higher unemployment in California (nearly 6%), and broader shifts in GDP and business activity favoring Republican-led states due to lower taxes, deregulation, and costs. It includes an advertisement for Therablu, a pain-relief gel from The Wellness Company.
Going Galt!
Maybe Gasbag could put up some more windmills?
SHADES OF WYATT’S TORCH-————
Hey California. Keep voting for Democrats, situation is sure to get better.
ROFL !!!!!
Denying the country California’s vast energy resources is a national security problem.
Not sure how Newsom can complain about Chevron, the democrats are very serious about putting fossil fuel industry out of business.
As will Arizona!
Nevada?
California liberals so richly deserve this. It’s about time they faced the consequences of their childish view of the world.
Chevron is in the news for 1) staying in Venezuela and 2) Leaving CA. Does that mean CA is worse than VZ?
Let them eat solar power.
Will these foreign refiners comply with California's special fuel blend requirements, which are unique?
Does CA have a facility to unload the fuel from tankers, store it, and then distribute it throughout the state?
What environmental impact will this all have? What cost per gallon?
Winning
Hey now they will contribute less to global warming and greenhouse gasses. He should be taking credit for it.
So when China invaded California they’ll run out of gas before the Arizona , Nevada border. I’m good!!
My thoughts exactly.
Or maybe there is more hope that Trump will invade Venezuela and exile the government than he will do the same to Kookifornia.
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