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Last week, Phillips 66 said it would shut down its Los Angeles oil refinery by the end of next year. Now, refining peer Valero Energy Corp is suggesting it could be next. Valero, the United States’ second-largest refiner by capacity, is keeping all options “on the table” for its two California refineries. According to the company’s Chief Executive Lane Riggs, this is due to the increasing regulatory pressure that has pervaded California.

On Friday’s broadcast of CNN’s “AC360,” CNN International host Christiane Amanpour discussed Israel’s strikes on Iran and the fact that the strikes did not hit Iran’s oil facilities and said that “the United States did not want, potentially, the global oil supply, and, therefore, the global economy to be shaken” by Israel hitting Iran’s oil facilities. Host Anderson Cooper said, “[A] number of those oil facilities are actually quite vulnerable. It could be — in terms of, certainly, compared to the nuclear facilities, could be relatively easily hit and a lot of economic damage done. But Israel is saying that...

Short on the heels of another major refinery closure, Valero signaled it is considering closing its two California refineries that produce over 14% of the state’s gasoline. Refinery closures already have the state importing 8% of its gasoline supply, which means the state could soon have to significantly increase its imports of refined products such as gasoline, on top of its existing reliance on the Middle East and South America for the majority of its crude oil. Valero announced its profit is down significantly due to very low margins from its refinery business, prompting a question during its earning call...

TEL AVIV - Russian-Israeli oligarch Leonid Nevzlin announced on Tuesday that he planned to give up his Russian passport in protest of Russia's invasion of Ukraine. "Everything that Putin touches dies," Nevzlin wrote in a Facebook post. "I am against the war. I am against the occupation. I am against the genocide of the Ukrainian people." Nevzlin was among the first prominent Russian oligarchs to establish self-imposed exile in Israel, fleeing what he has described as a campaign of politically-motivated persecution by Russian President Vladimir Putin. In 2003, Nevzlin fled Russia for Israel amid a Kremlin-backed investigation into his Yukos...

Meanwhile in the Democrat hellhole of California… California’s Democrat Governor Gavin Newsom signed a bill to hold Big Oil accountable – only it will lead to gas shortages and price hikes. Big Oil “has been screwing you for decades,” Newsom said. “Price spikes have cost Californians billions of dollars over the years, and we’re not waiting around for the industry to do the right thing,” Newsom said. “We’re taking action to prevent these price spikes and save consumers money at the pump,” he said. The bill passed the California Assembly last week with a 41-16 vote. Many Democrats did not...

I Built A Trump Gas Station And Charged $1.84 Per Gallon | What Happened Next is INSANE...

Vice President Kamala Harris would not support an expansion of fossil fuel drilling despite her recent campaign boasts about domestic oil production under the Biden administration. "Just to be clear, Vice President Harris hasn’t said anything that the administration hasn’t already said. She is not promoting expansion [of fossil fuel drilling]. She’s just said that they wouldn’t ban fracking," Camila Thorndike, Harris’ climate engagement director, said in an interview with Politico. The comments come as Harris has continued to face questions about her stance on energy production, going from supporting a ban on fracking just five years ago to touting...

The Biden-Harris administration openly admitted in early October that Iran has become enriched under its policies and leadership.... The Biden-Harris administration has seemingly eased sanctions against Iran in recent years, allowing the Islamic regime to rake in billions from oil revenues — and a new report from the administration itself published in October outlines exactly how much the regime has made.... During the Trump administration’s tenure and “maximum pressure” sanctions campaign against Iran, Tehran’s oil revenues fell from roughly $65 billion in 2018 to $28 billion in 2019, and even lower at $16 billion in 2020... When President Joe Biden...

The proposed sale by Roman Abramovich, the Russian oligarch, of his estim-ated $10bn (£5.5bn) stake in the Sibneft oil company to Gazprom, the state-controlled gas group, looks like a neat way of settling accounts with his country. He sails off into the sunset, free to buy yachts and football clubs, while the Kremlin virtually completes the renationalisation of Russia's core energy assets. Smiles all around, not least among the bankers involved. The truth is far less pleasant, for Russia and for Mr Abramovich. This deal, if it goes ahead, will be the latest development in the untransparent privatisation of Russia's...

For years, world leaders have accused Russia of funding environmental groups in Europe to steer nations away from energy independence and strengthen Russia’s iron grip over the continent. As nations across the globe begin shunning Russian oil in response to the country’s invasion of Ukraine, U.S. leaders are also questioning how deep Russia’s ties go in the environmental community. "The Russians actually fund some of the most rabid environmental groups in Europe because they sic them on the energy projects that aren’t Russian," James Carafano, vice president of the Kathryn and Shelby Cullom Davis Institute for National Security and Foreign...

EXCLUSIVE: The head of the Republican Study Committee (RSC) has called on Treasury Secretary Janet Yellen to launch an investigation into whether Russia secretly funded U.S. green groups that advocate against domestic oil and gas production. Rep. Jim Banks, R-Ind., led a letter to Yellen Friday that cites a 2015 Washington Free Beacon report that suggested the California-based Sea Change Foundation may allegedly be a conduit for Russian oil interests in funneling money to groups like the League of Conservation Voters (LCV), the Natural Resources Defense Council (NRDC), the Sierra Club and the Center for American Progress.

Saudi Arabia is prepared to abandon its $100-a-barrel crude oil price target as it moves to increase output, signaling its acceptance of lower prices, according to the Financial Times. This decision comes despite earlier production cuts by OPEC+ members, which sought to keep prices high. Brent crude prices dipped below $70 earlier this month, the lowest since December 2021. Despite this, officials plan to boost production starting December 1, potentially extending a period of reduced prices. This marks a shift from Saudi Arabia's previous focus on price stabilization. Saudi Arabia's ramp-up in oil production, especially if paired with lowered prices,...

As we approach the momentous November 5 elections, there are plenty of people who can offer a more astute political commentary than me, so I’ll defer to them right now. What I can do is help ignite a fresh spiritual fire in each of us, knowing that, as we burn bright, America will be changed. Revival in the church remains the only real hope of the nation. (If you are not a follower of Jesus, you may not find the rest of this article relevant. But you’re free, of course, to read on.)

LOS ANGELES, California — Gov. Gavin Newsom (D) traveled to Baldwin Hills to sign legislation restricting oil and gas facilities — and removing the pumpjacks behind him, ending a century of the oil and industry’s role in the area. AB 2716 will close the Baldwin Hills oil facilities, which existed prior to the surrounding area becoming developed for residential use, but which now sit inside what has become L.A.’s most prominent middle-class black neighborhood. AB 3233 will give local authorities more power to prohibit oil and gas drilling. AB 1866 will expand on existing law and increase and accelerate the...

Texas Attorney General Ken Paxton has filed a lawsuit against the administration of President Joe Biden over an endangered lizard found in West Texas. The dunes sagebrush lizard, found in southeastern New Mexico and four Texas counties, was classified as endangered by the U.S. Fish and Wildlife Service in May. Typically about 2.5 inches long, the lizards are found in the Permian Basin, which is an epicenter of oil and gas production in the U.S. However, Paxton argues that this classification is improper and violates the Endangered Species Act, and says the U.S. Fish and Wildlife Service failed to use...

The most deadly witness in the Biden impeachment inquiry is due to testify Tuesday in a closed-door interview on Capitol Hill. He will be able to lay out in forensic detail the times he knows that Joe met with Hunter’s business partners, both during and after his vice presidency. He will bring documents in which the Chinese talked of their delight about doing business with the “B family” and the encrypted messages and emails in which Joe was referred to either directly or in code as “the big guy” or by Hunter as “my chairman.”

Oil prices tumbled over 4% today, reaching a 3-year low as trader sentiment continued to sour ahead of tonight's highly anticipated U.S. Presidential debate between Donald Trump and Kamala Harris, with bearish sentiment sinking to multi-year lows as traders continue overreacting to any negative development and ignoring relatively healthy fundamentals.

Two recent court decisions could have far-reaching impacts on oil and gas projects. The Sierra Club, the Center for Biological Diversity, and other anti-fossil fuel groups recently sued the National Marine Fisheries Service, claiming the agency’s “biological opinion” failed to properly assess the risks that offshore oil and gas drilling poses to endangered species. Last month, U.S. District Judge Deborah Boardman ruled in favor of the plaintiffs.

Armed Venezuelan gang memebers are stealing oil, copper wire, diesel fuel and catalyst elements from Texas oil fields in West Texas, according to a memo issued to employees. According to the memo obtained by LibsofTikTok, a Texas-based oil company issued a memo to employees warning them about security concerns from violent migrant gangs. Venezuelan gang members are using vehicles to run workers and witnesses off the road as they steal oil and diesel fuel. Per the memo: Dr. McCullough on the “Serious Problem” Spike Protein Poses to Our Health Industry peers and law enforcement in West Texas (WTX) are aware...

The gangs are allegedly attacking oil workers and attempting to steal oil, fuel, and copper from oil fields in Texas.