Governor Gavin Newsom is adopting a more collaborative approach with the petroleum industry, as highlighted in his recent letter directed at the California Energy Commission. This comes in the wake of two significant refinery closures, with Valero announcing plans to shut down its Benicia facility, which could impact fuel availability in California. The state's long-standing stringent fossil fuel policies have created a challenging environment for refiners, prompting Newsom to encourage ongoing collaboration to ensure fuel access and adapt to declining fossil fuel demand over time.
Gov. Newsom’s letter signals a significant shift in California’s tone towards the oil industry, emphasizing collaboration as refineries face shutdowns.
With California pursuing stringent fossil fuel policies, Valero's CEO highlighted the impact these regulations have had on the California refining landscape, stressing their significant losses.
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