SACRAMENTO – Today, Catherine Reheis-Boyd, President and CEO of the Western States Petroleum Association, issued the following statement on the California Energy Commission’s (CEC) vote to pause the implementation of a refinery margin cap for at least five years:

“While today’s action by the CEC stopped short of a full statutory repeal or a 20-year pause, it represents a needed step to provide some certainty for California’s fuels market. The vote demonstrates the CEC’s understanding that imposing this failed policy would have likely exacerbated investment concerns contributing to California’s recent refinery closures.

“As we enter the final days of the legislative session, California policymakers need to keep these investment concerns as well as threats to gasoline supply top of mind and ensure that the Cap and Trade reauthorization does not undermine our state’s need for affordable, reliable fuels. Any major deviation from the existing program would create uncertainty for investors and exacerbate California’s affordability crisis.”

CONTACT: Jim Stanley
860-460-8775