Chevron Slashes California Spending on ‘Adversarial’ Fossil-Fuel Policies

 

• Budget reduced by hundreds of millions of dollars since 2022
• California considering “maximum” refining profit margin

Chevron Corp. is slashing oil-refinery investments in California because of “adversarial” policies toward fossil fuels, a move that may boost what already are the highest pump prices in the nation.

The oil giant headquartered in the San Francisco Bay area has cut spending in the Golden State by “hundreds of millions of dollars since 2022,” according to comments filed with the California Energy Commission this week. Chevron is a key supplier of jet fuel to the San Francisco and Los Angeles airports.

https://www.bloomberg.com/news/articles/2023-12-14/chevron-says-gavin-newsom-s-california-is-increasingly-hostile-to-fuel-makers