Is California government considering oil refinery takeovers? Yes, it is

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Is California government considering oil refinery takeovers? Yes, it is

^{Published on 2025-02-16 18:40:49 - MSN}

As oil companies shut down refineries, California policymakers are weighing whether the state should get into the refinery business to ensure steady supplies. An industry group says it's not so simple.

The article from MSN discusses a proposal by California state Senator Dave Min to explore the feasibility of the state taking over oil refineries. This initiative comes in response to ongoing issues with high gas prices and accusations of price gouging by oil companies. The legislation, Senate Bill 1322, aims to study the potential benefits and challenges of state ownership of refineries, including the impact on gas prices, environmental considerations, and the economic implications. The move is part of a broader effort to address the volatility in gasoline prices and to potentially stabilize them through public control. However, the proposal has sparked debate about the role of government in private industry, with critics questioning the efficiency and cost-effectiveness of such a takeover.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/is-california-government-considering-oil-refinery-takeovers-yes-it-is/ar-AA1z9c4G ]

Contributing Sources

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Is California government considering oil refinery takeovers? Yes, it is