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California Faces Crisis as Valero's Benicia Refinery May Close Amidst Political Bargaining
California's energy landscape is under mounting pressure as the state grapples with the potential closure of one of its major oil refineries. Valero's Benicia refinery, built in 1968, faces imminent shutdown, which could have significant consequences for gasoline supply and prices across the state. In a surprising turn, California lawmakers are reportedly in negotiations to allocate between $80 million and $200 million of public funds to pay for maintenance and other costs to keep the refinery operational through at least the 2028 presidential election.