Part 5/9:
The closure announcements come at a time when California consistently has the highest gas prices in the nation. The combination of state regulations — including cap-and-trade and low-carbon fuel standards — has made it increasingly burdensome for oil companies to operate. Ironically, while these regulations are designed to steer the state towards a greener future, it appears they are leading California into an energy crisis where traditional refining capabilities are diminished. Furthermore, the state's shift towards carbon neutrality raises questions about the environmental impact of importing oil from across the globe, potentially undermining the very goals pursued by lawmakers.