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Podcast: News For Reasonable People
Episode: #2,609 - Why Oil Companies Are Leaving California and what it means to consumers
Description: On October 16, 2024, the refiner Phillips 66 announced that it will cease operations at its Los Angeles-area refinery in the fourth quarter of 2025. This announcement came a few days after California Governor Gavin Newsom signed a new law placing additional regulations on refineries.
The closure will affect approximately 600 employees and 300 contractors that currently work at the Los Angeles-area refinery. Politico reported that this closure would also impact 8% of the state’s already tight gasoline production.