California may be nearing a gas price crisis as experts warn of soaring costs if key refineries close. USC professor Michael Mische reports that closures of major facilities like Phillips 66 and Valero could reduce refining capacity by 21% over three years, potentially pushing gas prices to $8 per gallon. However, Colin Murphy from UC Davis contests these predictions, suggesting that they reflect only worst-case scenarios and that proactive measures could alleviate risks. The state's governor has criticized Mische's report, calling it unsourced and alarmist.
There's no incentive for refineries to stay in California.
It's incredibly unlikely we'd get up to the $8 a gallon level.
Those headline numbers cherry-pick the worst-case scenario options.
The closures could significantly impact the availability of gasoline, sparking concerns throughout the state.
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