California Governor Signs Law Imposing Refinery Minimum Supply Requirements
Last week California Governor Newsom signed ABX2-1 that will require refiners to maintain a to-be-determined volume of various fuel types and blend components to prevent price increases due to refinery outages. The California Energy Commission (CEC) will set the volumes through rulemaking and CEC will have authority to review refiner resupply plans before maintenance outages. APMA opposed the bill, raising concerns about the impact on Arizona fuel supplies, as did Governor Hobbs and Nevada Governor Lombardo. The law takes effect in 90 days. Read more here.
Also last week, Phillips 66 announced the closure of their Los Angeles refinery. Read more here. Their announcement states that they plan to replace lost supply through their other refineries.
State and Industry News
• Opinion: How Candidates Can Win Arizona (The Hill)
• NACS to Host First Loss Prevention and Safety Symposium (NACS Daily)
• US Capacity to Produce Biofuels Increased 7% in 2023 (EIA Today)
• NACS Announces Plan for Leadership Transition (NACS Daily)
• Opinion: Vote No on Glendale Prop 499 (Glendale Star)
• EMA Weekly Review
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