Part 9/11:
The Future of California’s Refining Industry
The outlook is bleak for California’s refineries. Given the regulatory environment, few buyers are expected to step forward to acquire these facilities. Many operators have already decided it’s not financially viable to continue investing in California’s costly regulatory landscape, signaling a likely permanent shutdown of key assets.
This exodus will have long-term implications: increased reliance on imported fuel, higher prices, and greater environmental impacts from tanker transportation. The irony is that California's push for greener policies has in many ways undermined its environmental goals—by increasing costs and reducing local capacity, the state may end up importing more fossil fuels from abroad, with associated higher emissions.