XPost: sci.geo.petroleum, alt.politics.republicans, alt.fan.rush-limbaugh   
   XPost: sac.politics, talk.politics.guns   
   From: noreply@mixmin.net   
      
   California will face economic collapse under Gov. Gavin Newsom’s   
   “misguided” climate policy — with crippling job losses and sky-high gas   
   prices, Chevron warned in a doomsday letter to the lefty governor on   
   Wednesday.   
      
   The oil giant’s bleak outlook in the letter to Newsom and the California   
   Air Resources Board (CARB) came amid calls to block proposed amendments   
   to the Cap-and-Invest program, which places a strict limit on greenhouse   
   emissions that decreases each year.   
      
   Chevron argues that the carbon-cutting program will “cripple the   
   survivability” of the state’s remaining refineries, with devastating   
   effects on the Golden State and its residents.   
      
   “The proposed regulation will cripple the survivability of the state’s   
   remaining refineries, which will result in California losing the entire   
   industry to this misguided program,” read the letter from Chevron   
   President Andy Walz, obtained by the California Globe.   
      
   “This regulation will increase transportation and aviation fuel prices   
   for consumers. It will risk significant job losses, including many   
   high-paying union jobs, while reducing funding for essential public   
   services. It will upend California’s fuels market and threaten critical   
   energy and national security assets,” the letter from Chevron continued.   
      
   Chevron said the oil and gas industry supports more than 530,000 jobs   
   across the Golden State alone, and contributes approximately $64 billion   
   each year in state, local, and federal tax revenues that help fund   
   education, healthcare, and essential infrastructure.   
      
   California’s Cap-and-Invest program limits aggregate greenhouse gas   
   emissions from major polluters, which account for roughly 80% of the   
   Golden State’s pollution.   
      
   It requires the companies to buy allowances for each ton of carbon   
   dioxide emitted. Each year, fewer allowances are created. Revenue from   
   the program funds climate-friendly initiatives, such as public transport   
   projects and public health projects, according to CARB.   
      
   Similar pilot schemes in Spain and Australia have faced stiff   
   opposition, but Newsom and the CARB have continued the money-making   
   operation.   
      
   The governor extended the program — which was set to expire after 2030 —   
   through 2045 in September.   
      
   Coming after Valero began shutting down its Benicia refinery last month,   
   Chevron has warned that the state cannot survive another refinery   
   shutdown.   
      
   “Chevron urges policymakers and regulators to reconsider and revise the   
   proposed regulation before it causes lasting and irreversible harm to   
   California’s economy and energy security and broader vital American   
   interests,” Walz said in the letter.   
      
   The Cap-and-Invest regulation currently contributes $0.24 to the cost of   
   a gallon of gas for drivers in California, the oil leader noted, citing   
   the California Energy Commission.   
      
   Californians already face the highest gas prices of any drivers in the   
   country.   
      
   As of Wednesday, a gallon of regular gas averaged $4.736, compared to   
   the national average of $3.198, according to the latest figures from   
   AAA.   
      
   https://nypost.com/2026/03/04/us-news/california-gas-prices-face-cripplin   
   g-state-economy-chevron-president/   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)