Overview

• Energy Commission Vice Chair Siva Gunda urged pausing enforcement of the 2023 law that would fine refiners for excess profits to prioritize measures that stabilize prices and secure supplies.
• The commission plans to mandate that refineries hold minimum fuel inventories to cushion against shortages during maintenance and unplanned outages.
• Regulators proposed easing Kern County zoning rules to boost in-state oil extraction and streamlining permitting to attract private investment in refining and imports.
• Announcements by Phillips 66 and Valero to close refineries accounting for roughly 20% of state capacity have stoked fears of tighter supplies and higher pump prices.
• More than 50 environmental and consumer organizations decried the pause as an “oil refiner bailout,” urging lawmakers to enforce penalties to suppress costs at the pump.