Newsom Has a Gasoline Awakening

As refiners flee California, leading to higher prices at the pump, he asks his regulators to ease up

WSJ editorial. Excerpts:

"Valero announced last week that it will close a major Bay Area refinery and signaled another in Los Angeles was at risk"

[due to] "current or contemplated legal, political or regulatory developments"

"Chevron more or less said the same" "Ditto Phillips 66’s"

[this will] "will eliminate 20% of California’s already constrained refining capacity over the next 12 months"

"Few refineries outside the state can produce California’s mandated clean fuel."

[there is] "a maximum gross gasoline refining margin" & [a] " tightening of its low-carbon fuel standard"

"California’s gas prices are on average $1.64 a gallon higher than nationwide."