California Governor PANICS As Oil Supply Shortages Drive Record Gas Prices

Описание: California Governor PANICS As Oil Supply Shortages Drive Record Gas Prices

California is facing a full-scale fuel crisis as oil supply shortages push gas prices to record highs across the state, with some regions seeing prices surge past historic thresholds. The situation has triggered emergency responses from state officials and intensified scrutiny of California’s shrinking oil production and refining capacity.

This video breaks down how declining in-state oil production, permanent refinery shutdowns, and delayed fuel imports combined to create a perfect storm for California drivers. We explain why refinery closures by Phillips 66 and Valero removed a major share of gasoline supply, how limited import infrastructure slowed relief, and why California’s fuel system has little margin for error when disruptions occur.

You’ll also learn how critically low gasoline inventories triggered station outages, panic buying, and rapid price escalation across Los Angeles, the Bay Area, and the Central Valley. The video examines Governor Gavin Newsom’s response, accusations of price gouging, and why energy analysts argue the crisis is driven by supply fundamentals rather than corporate profiteering.

The analysis also explores the broader economic fallout, including rising transportation costs, pressure on agriculture and trucking, and growing concerns that sustained high gas prices could accelerate population outflows and business relocations from California.

Sources referenced include:
Energy Information Administration (EIA) – Oil production and fuel supply data
California Energy Commission – Inventory and refinery reports
GasBuddy and industry fuel pricing analysis
UC Davis and UC Berkeley energy research
Legislative statements and national reporting on refinery closures