- Despite record profits and high gasoline prices, Shell Oil Co. plans to close its Bakersfield refinery in October. It produces 2% of California's gasoline and 6% of its diesel fuel, which means an already tight fuel market is about to get even tighter. Drivers throughout the state are blaming Shell, but the real villain is the state's burdensome regulations and punitive taxes.
Whoís to blame?
Continuing the theme of this post, here's an LA Times oped by our David Nott: