#california-refineries

#california-refineries

On average, fuel prices are up almost a dollar per gallon, or 25 percent, according to AAA. For a nation as addicted to the automotive as we are, that's bad news. Except, of course, for electric vehicles.

Costco operates roughly 550 gas stations across the U.S., giving members plenty of opportunities to take advantage. Gas isn't a small line item for the retailer, either. Costco reports that fuel accounts for about 10 percent of total net sales, a steady revenue stream that helps the company keep prices lower.

Corpus Christi's two main reservoirs are just 8.4 percent full, while the backup reservoir is 55 percent full. Without drastic cuts, the water supply could run dry by early next year.

KeyBanc's revised oil deck reflects a materially stronger crude environment than previously modeled, with dislocations in global crude and refined products expected to persist into summer.

"With the long-term sustainability of our Los Angeles Refinery uncertain and affected by market dynamics, we are working with leading land development firms to evaluate the future use of our unique and strategically located properties near the Port of Los Angeles," Mark Lashier, chairman and CEO of Phillips 66, said at the time of announcing the closure.

Citi's upgrade reflects a broader geopolitical reality reshaping global energy markets. The Iran war is accelerating the flight of European and Asian buyers toward secure, long-term U.S. LNG supply contracts.

The Endangered Species Committee voted to approve the request for the ESA exemption at the request of the defense secretary, Pete Hegseth. Hegseth has said environmentalists' lawsuits against the industry threatened to hobble the nation's energy supply, while environmentalists fear drilling could kill off protected species including Rice's whales, whooping cranes and sea turtles.

Nobody expects today's high prices to last and we could very likely get back to the low $60 [per barrel] environment we faced just a few weeks ago. Experts say the unique geology of California's fields, and the nature of its heavy crude, make new projects, and efforts to pump more oil out of existing ones, costlier and more energy-intensive than drilling in other parts of the country.

Here, the contribution request betrays the email's true nature: a campaign promotion. Campaigning is not within Bonta's scope of employment. The judge pointed to a campaign email Bonta sent to Texas residents saying that only 5% is recycled and the rest ends up in the environment and in our bodies: 'Exxon Mobil knew, and Exxon Mobil lied.'

An all-electric, energy-efficient alternative to gas-burning furnaces, heat pumps are widely seen as the climate-friendly home heater of choice. They can do double-duty as both home heaters and AC units and are pretty good at maintaining a constant temperature inside a home without the blast-then-cool-off cycle typical of a furnace.

It doesn't have a short-term impact.

The company's record production jumped 12% year-over-year, driven by the Hess acquisition, which added 261 thousand barrels of oil equivalent per day. CEO Mike Wirth called it a "significant achievement...integrated Hess, started-up major projects, delivered record production." Chevron's integrated model spans upstream production, refining, chemicals, and emerging energy ventures, including lithium and hydrogen projects. The company returned $12.1 billion in share buybacks for the year and raised its dividend 4% to $1.78 per share.

The closure could cut hundreds of jobs and is expected to bruise the tax base of Benicia, a community anchored by the refinery that has also endured toxic pollution. But the company may replace its gas output with imports by ship, buffering California's fuel supply from potential shortages and price hikes, according to Newsom's office. It's unclear how much gasoline Valero plans to import, and the company has so far offered few answers.