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Author Topic: Valero Energy to shut down Benicia and Wilmington refineries in California  (Read 512 times)

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Offline rangerrebew

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Valero Energy to shut down Benicia and Wilmington refineries in California
« on: April 26, 2025, 05:28:56 am »
 
Valero Energy to shut down Benicia and Wilmington refineries in California
Story by GlobalData • 21h


Valero Energy has announced the impending closure of its Benicia and Wilmington refineries in California as the company faces a tough regulatory environment and escalating costs.

The announcement was made as part of the company’s first quarter 2025 (Q1 2025) results. The company posted a net loss attributable to Valero stockholders of $595m in Q1 2025, compared with a net income of $1.2bn in Q1 2024.
 
The Benicia refinery, with a capacity of 170,000 barrels per day (bpd), and the Wilmington refinery, with a throughput capacity of 135,000bpd, will cease operations by the end of April 2026.

In late March, Valero approved plans to either idle, restructure or shut down the Benicia refinery following concerns over California's dwindling fuel supplies and soaring gasoline prices.

https://www.msn.com/en-us/money/markets/valero-energy-to-shut-down-benicia-and-wilmington-refineries-in-california/ar-AA1DD7RK?ocid=widgetonlockscreen&cvid=545683aa275f4679b2b88a3647ddf678&ei=52
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Offline rangerrebew

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Re: Valero Energy to shut down Benicia and Wilmington refineries in California
« Reply #1 on: April 26, 2025, 05:30:01 am »
Watch gas prices in Commiefornia rise now!
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The unity of government which constitutes you one people is also now dear to you. It is justly so, for it is a main pillar in the edifice of your real independence, the support of your tranquility at home, your peace abroad; of your safety; of your prosperity; of that very liberty which you so highly prize. But as it is easy to foresee that, from different causes and from different quarters, much pains will be taken, many artifices employed to weaken in your minds the conviction of this truth.  George Washington - Farewell Address

Offline IsailedawayfromFR

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Re: Valero Energy to shut down Benicia and Wilmington refineries in California
« Reply #2 on: April 26, 2025, 10:26:25 am »
California will soon find out it should have been subsidizing refineries rather than trashing them out of existence.
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Offline Wingnut

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Re: Valero Energy to shut down Benicia and Wilmington refineries in California
« Reply #3 on: April 26, 2025, 11:02:54 am »
Reap what sow.  No gas for you.
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Offline IsailedawayfromFR

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Re: Valero Energy to shut down Benicia and Wilmington refineries in California
« Reply #4 on: April 27, 2025, 03:46:40 pm »
Looks like California will be importing a lot more of its oil as well as its gasoline.

It is within a doom loop.

Now we will begin hearing how the state should take over refineries and oil fields as they will be better 'environmental stewards'.

That will be fun to watch what happens then.

New Oil Drilling Permits in California Drop 97 Percent Over 5 Years: What to Know
https://www.theepochtimes.com/article/new-oil-drilling-permits-in-california-drop-97-percent-in-5-years-what-to-know-5834946?utm_source=partner&utm_campaign=TheLibertyDaily
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Offline Fishrrman

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Re: Valero Energy to shut down Benicia and Wilmington refineries in California
« Reply #5 on: April 27, 2025, 04:39:23 pm »
Isailed wrote:
"Now we will begin hearing how the state should take over refineries and oil fields as they will be better 'environmental stewards'.
That will be fun to watch what happens then."

Does a state have the legal abililty/power (or use the courts) to seize a business by claiming eminent domain? What would be the rationale?

Another option would be for California to make an acceptable offer to Valero to buy both refineries.

Of course, then they'd have to find people capable of operating them. Perhaps many or most of the current employees would stay on...
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Offline DB

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Re: Valero Energy to shut down Benicia and Wilmington refineries in California
« Reply #6 on: April 27, 2025, 05:10:28 pm »
Move the refineries to a friendlier state and screw California.

But the reality is, it will be the same thing that happened to Diablo Canyon nuclear power plant. The state wanted it shut down so PG&E complied winding down operations over several years - and now the state is spending billions to reopen/keep it going - because they have a major shortage of electricity generation... Meanwhile the rate payers pay for it all...

Duh...

Stupid should hurt - and it is. These refineries will be phase two of the pain of stupid. Where ideology overwhelms reality.
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Offline Smokin Joe

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Re: Valero Energy to shut down Benicia and Wilmington refineries in California
« Reply #7 on: April 28, 2025, 01:27:30 am »
To put this in perspective, at the start of the Bakken boom (about 2010), California was the number two oil producing state in the US, only behind Texas. Now they are in seventh place.
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Offline IsailedawayfromFR

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Re: Valero Energy to shut down Benicia and Wilmington refineries in California
« Reply #8 on: April 28, 2025, 12:43:48 pm »
Quote from: Smokin Joe on April 28, 2025, 01:27:30 am
To put this in perspective, at the start of the Bakken boom (about 2010), California was the number two oil producing state in the US, only behind Texas. Now they are in seventh place.
Sadly, California still has those resources existing in the ground, as they are not 'used up', but waiting for extraction.

But the state refuses to permit their exploitation so jobs, citizens and the state Treasury all suffer as a result.
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Offline DefiantMassRINO

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Re: Valero Energy to shut down Benicia and Wilmington refineries in California
« Reply #9 on: April 28, 2025, 01:30:12 pm »
California cannot import gasoline from other states.  California state law requires gasoline sold in Cali to be a specific blend, proprietary to Cali.  This is why gas prices are higher in Cali - supply constrained by state Government.  Scarcity creates value.

It was the intent of the Cali Dems to put 'Big Fossil Fuels' out of business in Cali to coerce involuntary adoption of alternate energy.  They are succeeding.

Future footage from Cali Highway Patrol ...


https://www.youtube.com/watch?v=spJf3pqFooI
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