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Podcast: News For Reasonable People
Episode: Valero’s Billion-Dollar Exit: Newsom’s Regulations Fuel California’s Self Induced Gas Crisis
Description: California is facing a major shake-up in its energy sector. Valero has announced a $1.1 billion exit from its Benicia refinery, choosing to shut down operations rather than continue under California’s strict regulatory environment. This closure could remove nearly 9% of the state’s in-state gasoline production—and analysts warn it may intensify the ongoing gas price crisis.