California Regulators Propose Gov’t Takeover Of Oil Refineries To Stave Off Energy Crisis

[SassyIrishLass]

There are EV fire scars all over our roads and interstates. They melt the road.

Guard rails won't stop them either. Too heavy

 

[jotathought]

Daily Caller!

#DISTRACTION

Then perhaps you should read the abstract and analysis provided by the State of California Energy Commission, which details state-owned refineries and reserves for cost controls. Enjoy.

 

[Captain Caveman]

I have just as much confidence in the California government's ability to properly run the oil refineries as I do in its ability to complete the high speed rail from Los Angeles to San Francisco in time and on budget.

California Regulators Propose Gov’t Takeover Of Oil Refineries To Stave Off Energy Crisis

California regulators have proposed a variety of government forays into the petroleum industry in order to combat future energy price surges

dailycaller.com

California Regulators Propose Gov’t Takeover Of Oil Refineries To Stave Off Energy Crisis​

August 2, 2024

California regulators have proposed a variety of government intrusions into the petroleum industry in order to combat future energy price surges, according to a report released Thursday by the California Energy Commission (CEC).

As the Golden State continues to pursue its green agenda, the CEC expects some of California’s nine oil refineries to be shuttered due to falling demand, which would give the remaining refineries increased pricing power and raise the possibility of a surge in gas prices, the study concluded. To solve this problem, the commission proposed a variety of government interventions, including expanded regulation on private refineries, the establishment of state-owned refineries and an increase in imports.

“The State of California would purchase and own refineries in the State to manage the supply and price of gasoline,” wrote the study’s authors, with the scope of the initiative ranging from “one refinery to all refineries in the state.”

You mean do a Socialism and nationalise it? Never works. It'll control the price but at the cost of investment, so the investment will be tax dollars, so tax will increase.

 

[jotathought]

You mean do a Socialism and nationalise it? Never works. It'll control the price but at the cost of investment, so the investment will be tax dollars, so tax will increase.

That's exactly correct. The government will artificially price output that contradicts market standards. It's a full-circle effect: as prices go down, taxpayer liability goes up to fund investment opportunities for technology advancements and exploration. Plus, they'll end up hiring private organizations to manage the operations, exploration, etc. which won't be inexpensive.

 

[westwall]

Chevron Taking Its Headquarters To Texas

Chevron announced Friday that will move its corporate headquarters from its longtime home in San Ramon, CA to Houston, Texas in the coming months.

www.forbes.com

Currently, Chevron has 2,000 employees in California, and 7,000 in various Texas locations.

Yes, and in less than five years there will no longer be Chevron employees in San Ramon.

DURRRRRR