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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, Vote Blue Live Poor <you@morons.com> posted some 
news:15f142981a.1745025010@haozg.pk:

> 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.

He's been successful at turning California into Detroit.

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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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