Congratulations Newsom,  

 

Governor Newsom's signing of stricter refinery oversight laws in late 2024 preceded Phillips 66's announcement (October 2024) to close its Los Angeles-area refinery by the end of 2025, citing market uncertainty and high operating costs as primary reasons, though the new regulations were a backdrop to increased pressure on California's oil industry. While Phillips 66 stated the closure wasn't directly due to the law, the company, like others, faced challenges with California's unique market and environmental rules, impacting roughly 600 jobs and 8% of the state's gasoline supply. 

The news follows an announcement in August 2024 that Chevron, the second-largest U.S. oil company, will relocate from its California headquarters to Texas. The company, with roots in California dating back to 1879, will transition its headquarters to Houston over the next five years.

Chevron’s move comes as a response to California's stringent regulations and aggressive climate policies. Chevron's CEO, Mike Wirth, expressed concerns about the state's business environment in an interview with The Wall Street Journal.

 

Gas prices will surely increase. Already the highest in the nation. Good job Newsom. 

I hope they enjoy even higher gas prices. 

Whoa ... that's a big tax check lost.   No prob, pass it over to the millionaires, till they say enough and leave also.

 

Along with the income taxes from workers, and money not put into the economy, and loss sales taxes from the purchases not being made soon.

 

Add more draining on the unemployment and welfare funds.  Foreclosures, idol properties, loss RE tax revenue, school tax revenue.

 

Well done Newsom 👍

 

 

I grew up in neighboring Torrance and at one time Chevron (El Segundo), ExxonMobil (in Torrance) and Phillips 66 (in Wilmington) were producing a lot of gasoline, diesel and even aviation fuel.  Exxon Mobile sold it's refinery to a smaller company and only Chevron is still producing in big numbers. I expect gasoline prices in CA to go up and stay high. The other plan Gavin wants to implement is a mileage tax on all vehicles. That is the more miles you drive the more you pay. This is motivated by the fact that EV ownership in CA is growing and tax revenue from gasoline sales is decreasing. Great job Gavin and good luck on your 2028 POTUS ambitions. 

They say Phillips 66 produces 17% of Ca fuel. I read they're considering taxing milage driven if less fuel consumed. 

38 minutes ago, EVENKEEL said:

They say Phillips 66 produces 17% of Ca fuel. I read they're considering taxing milage driven if less fuel consumed. 

 

I'd agree with the mileage tax, unless they figure out a way to tax the energy used by electric vehicles.  They put more wear and tear on the roads because of their higher weight, yet they pay no highway taxes when they fuel up.  Of course, that'll be a rude awakening for the EV owners.  But fair is fair. 

 

Maybe continue taxing gasoline the same and just impose the mileage tax on the EVs?  Of course, that brings with it privacy concerns because it's none of the gub'ment's business how many miles we drive.  And I'd bet the gub'ment wants more than just mileage data from your car's computer (which is how they'll probably get the data).  But lefties are pretty fickle about what's private and what's not.