California wants to own its own refinery! What would Ellis Wyatt think?
California policymakers are considering state ownership of one or more oil refineries to ensure a reliable supply of gasoline as the number of refineries in the state declines.
An oil industry trade group questions whether the state would have the expertise to effectively run a refinery, citing a lack of “understanding of the industry and how it works.”
Russia. China. Venezuela. Iran. More than a dozen countries make gasoline at state-owned refineries.
Could California be next on the list?
An oil industry trade group questions whether the state would have the expertise to effectively run a refinery, citing a lack of “understanding of the industry and how it works.”
Russia. China. Venezuela. Iran. More than a dozen countries make gasoline at state-owned refineries.
Could California be next on the list?
A gulch maybe.
The article cited two reasons for gasoline consumption in the state declining. Reason #3 was left out: people leaving the state, especially the kind needed to run a refinery.
At least the state can sue itself if anything goes wrong.
Construction cost will be over $100 billion and they'll expect the fedgov to cover their losses like TBTF banks.
How could 45 million fast food customers be wrong?