Two Refineries Closed. Where Is California's Gas Coming From Now? | C.J. Nord | Skip York
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Two Refineries Closed. Where Is California's Gas Coming From Now? | C.J. Nord | Skip York
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California's two major refineries closed within the past year. The state now imports twice the gasoline it did before. No replacement supplier has been identified. The modeling that would show the full impact of that gap has not been made public.
The supply chain California now depends on runs through foreign refineries that are themselves struggling to source crude through a Strait of Hormuz operating at less than half its normal capacity. Prices at the pump have already risen more than a dollar per gallon, and wholesale costs have climbed faster still. The next wave has not reached the street yet.
C.J. Nord, Founder of Supply Chains for Good, and Skip York, Senior Vice President and Chief Energy Strategist at Turner, Mason & Company and Nonresident Fellow at the Baker Institute, have been watching this from inside the supply chain.
*Views expressed in this video/article are opinions of the author and do not necessarily reflect the views of California Insider.