Chevron warns California faces energy crisis amid Iran war, threatens to exit state over taxes and regulations Chevron warns that California is heading toward a severe fuel shortage due to disruptions from the Iran war, refinery closures and reliance on Asian imports (20% of refined fuels). The blockade of the Strait of Hormuz has worsened supply chain issues, risking shortages in jet fuel and gasoline. Chevron threatens to exit California refining within a decade unless the state rolls back taxes and climate regulations. New CARB emissions rules could add $500 million in costs, further straining operations. California’s isolation from U.S. refining…

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