Chevron (CVX) is warning that California is heading towards an energy crisis due to the Iran war and that the company may quit refining oil in the state unless officials roll back taxes and regulations, Bloomberg’s Nathan Risser and Kevin Crowley report. California is highly exposed to the disruption rippling across commodity markets because it imports about 20% of its refined fuels from Asia, the authors note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CVX:
- Trump Trade: TotalEnergies to shift capital from wind to natural gas
- Equinor Stock (EQNR) Stays Undervalued as Market Overlooks Opportunity
- Trump to launch ‘Pax Silica’ fund to invest in energy, semis, NYT reports
- Chevron (CVX) CEO Warns More Oil Shocks Are Coming
- Other Middle East countries mulling joining campaign against Iran, WSJ says