Chevron

California is facing a potential energy crisis as it considers state ownership of oil refineries in response to the looming closure of major facilities like the Phillips 66 refinery. This move could lead to significant fuel shortages, price spikes, and logistical challenges due to California's limited import options. The state's aggressive environmental regulations have made it increasingly unprofitable for private companies to operate refineries, prompting concerns about government efficiency in managing such complex operations. Experts warn that without a balanced approach to energy policy, California risks higher gas prices and supply disruptions. The situation underscores the need for regulatory reforms to support a stable energy future.