“California can ill afford the loss of one refinery, let alone two,” says USC Professor Michael Mische in a new report warning of an impending gas crisis this summer with two local refineries being shut down.
“In 1982, California satisfied 62% of its petroleum needs from in-state oil producers,” says Professor Mische. “Since 1990, California’s imports of petroleum from non-U.S. producers have increased by a staggering 713%. While California was becoming more dependent on foreign sources, the overall U.S. became less dependent.”
In March, the Globe reported on a study also by Professor Mische which found that the factors contributing to California’s high gasoline prices over 50-years are self-imposed by state officials and politicians. It turns out that California is its own worst enemy.
In April it reported that California’s average price for a gallon of gas was $4.918, while the national average cost for a gallon of gas was $3.260. In Texas that same gallon gas cost $2.87.
Full story California Facing $8.43/gallon Gas – a 75% Increase – as Refineries Close – California Globe
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