Chevron just sent a letter to California Governor Gavin Newsom and the California Air Resources Board warning them of deep concerns and strong opposition to the CARB- proposed amendments to the Cap-and-Invest (formerly cap and trade) regulation, that the state’s few remaining refineries can’t survive, and the California economy could be crippled.
“The proposed regulation will cripple the survivability of the state’s remaining refineries, which will result in California losing the entire industry to this misguided program. This regulation will increase transportation and aviation fuel prices for consumers. It will risk significant job losses, including many high-paying union jobs, while reducing funding for essential public services. It will upend California’s fuels market and threaten critical energy and national security assets.”
Over the weekend, the Globe reported that PBF Energy Inc. also warned CARB about “the stark reality the impacts the current CARB Cap & Investment program would have because of the state’s remaining 7 refineries. And, CARB’s “Proposed Amendments will only worsen the current state of the program, making costs skyrocket further. If enacted as written, the Proposed Amendments will inevitably drive in-state refining capacity to zero.”
The gist of Chevron’s message to the governor and Air Resources Board is that California’s economy and energy security cannot survive another refinery shutdown.
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