Daybreak8 Mar 2026 17:52
although i am not a fan of kamran's sack of ****e of which we own 42% things are looking up as it appears as i have posted in the past inadvertently we appear to be in the right place when it come to the final court decision and damages and lost revenue.
california is facing a severe, self-inflicted energy crisis characterized by the highest gas prices in the nation—often over $5 per gallon—and potential supply shortages. the crisis is driven by a 20% reduction in refining capacity due to closures (e.g., phillips 66 and valero), strict environmental regulations, and a lack of pipelines, making it a "petroleum island".
los angeles times
los angeles times
+4
key factors driving the crisis
refinery closures & reduced capacity: the imminent closure of the valero benicia refinery (april 2026) and phillips 66 in los angeles has taken approximately 20% of the state's gasoline production offline.
high regulatory costs: stringent environmental policies and climate programs (e.g., cap-and-trade, low carbon fuel standard) are driving up costs for in-state refiners, with estimates suggesting these regulations add over $1 per gallon to the price.
"petroleum island" status: california lacks pipelines connecting it to other states, forcing it to rely on expensive, and often unreliable, international imports.
declining in-state production: decades of reduced oil production have increased reliance on foreign, often volatile, markets.
calmatters
calmatters
+6
potential impacts
surging prices: experts and lawmakers warn that the supply crunch could push prices above $8 per gallon in 2026.
supply shortages: the reduction in local supply, combined with limited import capacity, could lead to fuel shortages, similar to the 1970s.
economic disruption: high fuel costs for transportation, trucking, and logistics are putting pressure on the state's economy.
youtube
youtube
+1
proposed solutions & debates
increased imports: state officials are encouraging more imports, though this faces challenges with port capacity and tanker availability.
increased domestic production: there is renewed pressure to increase in-state oil production to stabilize supply.
policy reversal: critics call for reducing regulatory burdens and suspending the state gas tax, arguing that current policies are making the problem worse.
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