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| Chevron Warns California Facing Historic Fuel Crisis As Diesel Hits Record $7 |
| 2026-03-26 |
| [ZeroHedge] The world's biggest energy execs are currently at the annual CERAWeek conclave in Houston where, understandably, they are dropping bulletin bombs reeking of fire and brimstone, and warning the already critical oil/gas situation will only get worse if the pre-war status quo isn't restored (which incidentally will be great for their bottom lines... until the world is tipped into a recession). Take US oil giant Chevron, which warned that California is careening toward an energy crisis because of the Iran war (which will likely be resolved soon), and that the company may quit refining oil in the state unless officials roll back taxes and regulations (which is unlikely to ever be resolved as long as Dems are in charge of the Golden State). California is highly exposed to the disruption rippling across commodity markets because it imports about 20% of its refined fuels from Asia. But as extensively discussed here, oil product shipments from China, South Korea, Singapore and elsewhere are at risk of slowing significantly as Iran blocks the Strait of Hormuz, leaving Asian nations struggling to meet their own demand at home let alone export to California. Chevron’s oil refining head Andy Walz said the potential for fuel shortages in California is his worst fear: “We have refineries in Asia that are having to cut crude, and so they’re going to make less products,” Walz said in an interview Tuesday. “What if San Francisco doesn’t have the jet fuel it needs? Or Los Angeles? Or maybe gasoline?” And as if to confirm his warning, just hours later the price of California Diesel hit a record high just above $7 per gallon, or $7.072 to be precise. Related: Chevron 03/18/2026 President Trump Invokes Emergency Law to Restart California Offshore Oil Chevron 03/15/2026 Ukrainian Perspective: Invasion of Ukraine: March 14, 2026 Chevron 03/11/2026 Yamaha Announces it's Leaving California for Georgia After 50 Years as Californians Debate Implementing ‘Wealth Tax' |
| Posted by:Skidmark |
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| Posted by: SteveS 2026-03-26 19:18 |
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| Posted by: Abu Uluque 2026-03-26 13:22 |
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| Posted by: mossomo 2026-03-26 13:16 |