"For more than half a century, Benicia's economy and identity have depended on oil production. Valero's 400-plus employees, a quarter of whom lived in town, spent some of their paychecks at First Street's bars and restaurants, which also served hundreds more workers contracted for maintenance each year."
"The closure was expected. California established its goal to completely phase out fossil fuels to combat global warming more than a decade ago. But Benicia is losing its largest taxpayer much sooner than the city can afford."
"These unplanned, disruptive closures could have incredible impacts on local economies, especially in areas like Benicia that have historically relied on the oil industry for economic stability."
The Valero refinery in Benicia ceased operations, significantly affecting the local economy and identity. With over 400 employees, the refinery was a major source of income for residents and local businesses. The closure, anticipated due to California's fossil fuel phase-out goals, has left businesses scrambling for new markets. Valero's idling also threatens to increase oil prices in a state already facing high gasoline costs. The loss of the refinery as a taxpayer is a significant blow to the city's finances.
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