Part 2/6:
As refiners announce their intent to close, a chilling reality surfaces—California’s gas supply could face a significant 20% reduction. Observers highlight that this could lead to substantial hikes in gas prices, putting added strain on an already burdened population.
Legislative Reflection on Energy Policies
During the hearing, lawmakers voiced their confusion regarding the diverging narratives between profitability for California oil companies and the recent trend of refinery closures. Chairman of the Assembly Utilities and Energy Committee cut in with pointed questions about price manipulation and the economic rationale behind such closures.