$8 Gas Incoming? Another Major Refinery Is Leaving California скачать в хорошем качестве

$8 Gas Incoming? Another Major Refinery Is Leaving California

California just lost another major refinery — and the consequences could be brutal. Valero is shutting down its Benicia refinery in 2026 and writing off $1.1 billion just to get out of California. This facility alone produces nearly 9% of the state’s gasoline, and its closure follows the recent shutdown of Phillips 66. Together, these exits are set to cripple California’s fuel supply. Economists from UC Berkeley and Stanford are warning that Californians could see gas prices jump by $1.21 per gallon, with potential spikes to $8 per gallon during supply disruptions. Hundreds of workers are losing their jobs, entire cities are losing major portions of their budgets, and drivers across California, Arizona, and Nevada will feel the pain at the pump. California is a “gasoline island.” When refineries close, there are no easy alternatives. Instead of producing fuel locally, the state increasingly imports gasoline from overseas — often from countries with weaker environmental and labor standards — while shutting down cleaner, regulated refineries at home. In this video, we break down: Why Valero chose to take a billion-dollar loss rather than stay How refinery closures directly raise gas prices What this means for blue-collar workers and rural communities Why California’s energy policies are colliding with economic reality And whether federal intervention could change the outcome Is there any turning back now — or is California locked into permanently higher gas prices? 👇 Drop your thoughts in the comments. 👍 Like 📩 Subscribe 🔔 Turn on notifications If you want to stay informed on what’s really happening in California politics, energy, and policy — you’re in the right place. For more in depth news coverage throughout the week on California politics, make sure to check out our Substack at https://caunderground.substack.com/ Are you a Californian who feels isolated and alone in your political views in a deep blue state? Feel like you can’t talk about insane taxes, an overbearing government, and radical social experiments without getting a side eye? Then join us on the California Underground Podcast to hear from people just like you. The California Underground Podcast is dedicated to discussing California news and politics from a place of sanity and rationality. Check out our full site for more information about the show at www.californiaunderground.live Follow California Underground on Social Media Instagram: www.instagram.com/californiaunderground X:   / caundergound   Tik Tok: https://www.tiktok.com/@californiaund... YouTube:    / @californiaunderground