California May Lose Two More Refineries That Produce 14% of Gasoline in the State
October 27th, 2024Via: Just the News:
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.
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What’s the plan? Is California supposed to become totally dependent on foreign sources of oil? Or one very big solar or wind farm? Or what?
Australia’s refinery closures over the last 20 years resulted in a 20% loss of domestic production; NZ’s Marsden closure dropped it almost 80%!
Asian refineries, mostly Big Oil operations in Singapore, now supply the shortfall.