From Refineries to Fiefdoms: Is Newsom Orchestrating a State Takeover of California’s Oil Industry?

22 Apr 2025 Leave a comment

by Jim Rose in economics of bureaucracy, economics of climate change, economics of regulation, energy economics, environmental economics, environmentalism, global warming, industrial organisation, law and economics, liberalism, Marxist economics, politics - USA, property rights, Public Choice, survivor principle Tags: , ,

California’s refining capacity is collapsing—not because demand has disappeared, but because it is being deliberately dismantled by regulatory fiat. The recent announcement that Valero Energy will idle or shutter its Benicia refinery by 2026 isn’t just a business decision. It’s the calculated result of a hostile policy environment designed to punish traditional energy producers until they either leave the state or fall into government hands.

From Refineries to Fiefdoms: Is Newsom Orchestrating a State Takeover of California’s Oil Industry?

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