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RE: LeoThread 2025-06-06 16:27

in LeoFinance4 months ago

Part 3/9:

In response to the refinery closures, Governor Gavin Newsom’s administration found itself under scrutiny during hearings at the state capital. Lawmakers expressed concerns that with California's two oil refineries set to close — which together contribute around 20% of the state's refining capacity — more crude oil would need to be imported from abroad, significantly raising the likelihood of increased gas prices for California residents. Newsom’s administration previously passed stringent regulations on the oil industry, which are now being questioned for their effectiveness and unintended consequences.