Big Oil wants an even bigger bailout
Californians are already footing the bill
The Shakedown
For years, oil giants raked in record profits by cutting corners. Instead of fixing up their aging refineries, they gouged Californians and paid out billions to shareholders: $4.3 billion to Valero investors last year alone.
Today, the transition away from oil is well under way – not just in California, but around the world. And oil executives are blaming California’s climate policies for these refinery closures in an attempt to shakedown Californians on their way out.
At the Supreme Court, a Valero subsidiary is suing the Environmental Protection Agency not only to gut Advanced Clean Cars, but also California’s explicit authority under the Clean Air Act to regulate air pollution.
Oil lobbyists are using refinery closures, the threat of gas price spikes, and misinformation to pressure California lawmakers for even more subsidies and rollbacks. They want our elected officials to walk back decades of health, safety, and environmental regulations – and make taxpayers foot the bill.
But there is another way forward.
As California and the rest of the world transition away from fossil fuels, our leaders must choose to safeguard decades of climate progress, prepare for refinery closures, and soften the inevitable shocks of transition for refinery workers, frontline communities, and working families.
No Bailouts for Big Oil.
These companies are not victims of over-regulation. California oil refineries remain extremely profitable.
Instead of handing oil execs even more taxpayer dollars, the state should be working to eliminate all fossil fuel subsidies and investigate anti-competitive practices that drive up gas prices at the pump.
Safeguard California’s Health and Climate Progress.
Californians deserve to breathe clean air, drink clean water, and pass on a more stable climate future to our kids and grandkids. We cannot let the same industry that lied about climate change for decades dupe us into rolling back critical health, climate, and environmental protections. California must stand firm on environmental protections, climate commitments, and consumer safeguards, even as fossil fuel companies try to deflect blame.
Stabilize Supply and Smooth Price Spikes.
Oil companies should not be allowed to exploit the prospect of refinery closures to manipulate supply and drive up prices.
California needs storage strategies that reduce reliance on oil monopolies like minimum inventory and resupply regulations. The state must also reject rollbacks to refinery process safety management rules to prevent sudden outages that trigger price shocks.
Ensure Accountability for Closure Costs and a Just Transition.
If and when oil refineries close up shop, they must actually pay to safely decommission and fully remediate their toxic sites. We must take steps now to require a safely staffed shutdown, community engagement in re-development, and robust support for transitioning refinery workers into high-road jobs. Fossil fuel companies, not taxpayers, should bear the real costs of cleanup.
With oil refineries fueling the flames of climate change, wildfires, floods, and droughts are growing more devastating and more costly each year. Failure to make the transition off of fossil fuels is simply not an option.
Let’s make sure this transition benefits Californians – not fossil fuel billionaires.
TAKE ACTION
Together, we can stop the oil shakedown. Tell your elected officials: don’t bail out big oil – protect our climate and health progress.