California

Eugene

(65,990 posts) Thu Jul 24, 2025, 12:23 PM Jul 24

In rare move, California steps in to find buyer for Valero refinery to avoid closure, sources say

Source: Reuters

Exclusive-In rare move, California steps in to find buyer for Valero refinery to avoid closure, sources say

Nicole Jao, David French and Shariq Khan
Wed, July 23, 2025 at 1:10 PM EDT 4 min read

NEW YORK (Reuters) -California government officials are trying to find a buyer for Valero Energy's Benicia refinery near San Francisco, three sources familiar with the matter said, an unusual effort as the clock ticks down on the company's planned closure of the facility in April.

The rare attempt by a state government to broker the sale of privately-owned infrastructure reflects its growing concerns over protecting fuel supplies in the most populous U.S. state and keeping a lid on prices, where California's nearly 28 million drivers already pay among the highest prices for gasoline in the country.

California's effort to save the refinery from closing also marks a shift from the focus of government policy in recent years to champion green initiatives and restrict fossil fuel usage, that has led to an often tense relationship between the state and oil companies, including the second-largest U.S. refiner by capacity.

The state's primary energy and policy planning agency, the California Energy Commission (CEC), has actively sought buyers for the plant, three sources told Reuters, speaking on condition of anonymity to discuss private deliberations.

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Read more: https://finance.yahoo.com/news/exclusive-rare-move-california-steps-171007120.html

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In rare move, California steps in to find buyer for Valero refinery to avoid closure, sources say (Original Post) Eugene Jul 24 OP

The big oil companies want to enshitify California's gasoline supply. hunter Jul 24 #1

Wish the state could buy it and run it as a non-profit ... Auggie Jul 24 #2

hunter

(39,721 posts)

1. The big oil companies want to enshitify California's gasoline supply.

Reply to Eugene (Original post)

Thu Jul 24, 2025, 01:05 PM

Jul 24

They'd sell us worse gasoline -- more toxic, more polluting -- for the same price or higher than we pay now.

Finding a refiner who is willing to meet California standards for gasoline is a lesser-of-two evils situation.

If California falls back to federal gasoline standards and the lack of enforcement of these standards common in other states it will be a dirtier place.

In a better world we'd be closing refineries because the market for gasoline was collapsing.

Auggie

(32,445 posts)

2. Wish the state could buy it and run it as a non-profit ...

Reply to Eugene (Original post)

Thu Jul 24, 2025, 03:18 PM

Jul 24

but that counters the green, sustainable manifest. That comes first.

Tear it down and install wind turbines? $$$$.

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