Chevron Gets Refinery Expansion



You know, it kinda felt like it was in the cards anyway. This morning, as in just after midnight, the Richmond City Council approved a plan for Chevron to expand its refinery capacity and refine new, low-quality crude oil. Neighbors and environmentalists complained that the new crude and expanded capacity might pump more emissions into the air, and raised holy hell for two back-to-back nights of council meetings. But the council decided to go ahead with the deal. Chevron reps claimed that the plan would not significantly raise the emissions level, and offered $61 million in community improvements to sweeten the pot. Now that California's refining capacity is about to expand, when can we start seeing a dip in gas prices?