Governor Newsom is causing another refinery to go down. Valero refinery is considering shutting down. It threatens to throw the inhabitants of the small city of Benicia into unemployment and poverty. Valero is planning to shut down next April instead of selling. No one wants to buy it.
The Benicia Mayor said the plant brings in millions of dollars.
No one wants to buy the plant because it would require a significant amount of money to keep it going. The state of California doesn’t want refiners in its state. They’ve pushed them out, and this is the result.
Newsom doesn’t want refiners, and, as expected, the number of gas refiners is dwindling, leading to increasing gas prices.
Valero warned for some time that the prices were too high, and the regulations too oppressive.
Valero is the newest refinery on the West Coast, bringing a significant amount of gas to the California market.
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