Chevron had been headquartered in California for over 140 years, giving it strong roots in this state. However, the toxic policies of California’s lawmakers and regulators have killed those roots.Sacramento sees gasoline firms and petroleum refineries as cash cows that will always agree to be milked despite being made into a climate villain and accused of corporate greed.
Such reserves would shield Californians who already pay some of the highest pump prices in the nation from the sort of run-ups seen in 2022 and 2023, said Tai Milder, a Newsom appointee who leads the state’s Division of Petroleum Market Oversight. If such a measure had been in place, it would have saved consumers as much as $650 million last year alone, he said.
Inflation is hurting the average Californian. However, gasoline is still a good value for money, especially compared to the inflation rate for food.