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Re: CA Gas Prices Are Set to Surge Due to Newsom's Latest Failure

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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.

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Thread

CA Gas Prices Are Set to Surge Due to Newsom's  Latest Failure John Smyth <smythlejon2@hotmail.com> - 2025-04-18 19:08 -0400
  Re: CA Gas Prices Are Set to Surge Due to Newsom's Latest Failure % <pursent100@gmail.com> - 2025-04-18 16:29 -0700
  Re: CA Gas Prices Are Set to Surge Due to Newsom's  Latest Failure Vote Blue Live Poor <you@morons.com> - 2025-04-19 01:10 +0000
    Re: CA Gas Prices Are Set to Surge Due to Newsom's  Latest Failure pothead <pothead@snakebite.com> - 2025-04-20 20:08 +0000
    Re: CA Gas Prices Are Set to Surge Due to Newsom's  Latest Failure lonnie white <lonnie.white@guest.com> - 2025-04-21 03:24 +0000

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