Chevron warns Newsom’s ‘adversarial’ energy agenda will cripple California economy, send gas prices soaring (Connecting the Dots: California Gov. Gavin Newsom, Chevron, Venezuela & the Carnegie/Soros Network)
Company
President Andy Walz warns regulations will 'cripple the survivability' of
state's remaining fuel facilities
Fox
Business
Energy
in America Published March 5, 2026 9:52am EST
By
Kristen Altus
Chevron exec
reveals concerns over California's energy polices: 'I'm quite worried'
'The Big Money Show' panelists discuss
California's energy policies its impact on gas prices as well as the oil
industry.
Chevron is sounding a dire alarm, warning California
Gov. Gavin Newsom and state regulators that newly proposed
"cap-and-invest" amendments are a death knell for California’s remaining refineries.
The energy giant warns the move will kill
more than half a million jobs, threaten national security and spike gas prices
by more than a dollar per gallon — all to fuel a state-run
"shakedown" of the energy sector — in a letter addressed to Newsom
and obtained by The California Globe.
"The proposed regulation will cripple the survivability of the state’s
remaining refineries, which will result in California losing the entire
industry to this misguided program," Chevron President Andy Walz wrote.
"This
regulation will increase transportation and aviation fuel prices for consumers.
It will risk significant job losses, including many high-paying union jobs,
while reducing funding for essential public services," he continued.
"It will upend California’s fuels market and threaten critical energy and
national security assets."
The
California Air Resources Board (CARB) is aiming to make companies cleaner by
aggressively lowering the cap on how much total pollution is allowed in the
state. Specifically, the board is proposing to pull 118.3 million allowances
out of the state’s market between 2027 and 2030 and has more recently increased
its carbon reduction target to 90% by 2045.
Chevron's
president wrote a strongly worded letter addressed to California Gov. Gavin
Newsom over proposed energy regulations. (Getty Images)
Walz
warns that the green energy agenda comes with a price tag for working families,
writing that Chevron projections show a $1 increase per gallon of gas by 2030
and an estimated 536,770 industry jobs at risk.
California
already has the highest gas prices in the nation, with the current state
average listed at $4.81 per gallon, according to AAA. The
national average, by comparison, is $3.25 as of March 4.
In some California counties, gas costs as much as $5.74 per gallon.
"These
impacts will fall most heavily on lower-income households that spend a
disproportionate share of income on transportation fuels, increasing costs
without addressing the underlying driver of California’s gasoline prices,"
Walz said. "Affordability is a top concern for California’s residents and
Chevron, and these proposed amendments would only exacerbate the high cost of
living in the state."
Walz
frames this not only as a local issue but as a threat to the energy stability
of the entire United States.
Interior
Secretary Doug Burgum reveals if Venezuelan oil can help the global supply
Exclusive:
FOX Business correspondent Edward Lawrence has the latest on Interior Secretary
Doug Burgum's visit to Venezuela on 'The Claman Countdown.'
"Refinery
closures in California reduce fuel supply resilience on the West Coast,
increasing risks to military readiness and national security," Walz
cautioned. "Maintaining a stable policy framework that supports continued
operation of California refineries is therefore not only an economic and
consumer affordability issue, but also a matter of broader energy
security and
national defense."
CARB is
also reportedly exempt from standard open-meeting rules, allowing it to manage
billions of dollars in carbon auctions behind closed doors.
"The
California energy industry’s economic, industrial, environmental and national
security benefits have been the foundation of a healthy, prosperous state and
nation. Adversarial policies at local, regional and state levels have eroded
that foundation," Walz said.
Chevron
CEO Mike Wirth touts record growth, $27B shareholder returns despite lower oil
prices
Chevron
CEO Mike Wirth joins ‘Mornings with Maria’ to discuss record oil production,
rising dividends and the company’s long-term growth strategy.
"These
proposed regulatory changes threaten to destroy it. Chevron urges policymakers
and regulators to reconsider and revise the proposed regulation before it
causes lasting and irreversible harm to California’s economy and energy
security and broader vital American interests," he concluded.
Newsom’s
office directed Fox News Digital to CARB, which said in part: "We continue
to meet with regulated entities to make sure we fully understand implications
of the proposed amendments. Staff will present the proposal for consideration
by the CARB Board at a public hearing at the end of May. As we hear from the
public, affected industries and our partners in the Legislature, we have
included time to make adjustments to the draft proposal prior to Board
consideration."
Connecting
the Dots:
Gavin Newsom is the California state government, governor a director at the Center for Arms Control and Non-Proliferation (think tank) and was invited to George Soros’s 2013 wedding reception.
George Wallerstein is an advisory board member for the Center
for Arms Control and Non-Proliferation (think tank), and a senior director
for the NAACP Legal Defense & Educational Fund.
Foundation to Promote Open Society was a funder for the NAACP
Legal Defense & Educational Fund.
George Soros was the chairman for the Foundation to
Promote Open Society, married in 2013 and Gavin Newsom was
a guest at his wedding reception.
Vernon E. Jordan
Jr. is a senior director at the NAACP Legal Defense &
Educational Fund and a senior counsel for Akin,
Gump, Strauss, Hauer & Feld, LLP.
Akin,
Gump, Strauss, Hauer & Feld, LLP is the lobby firm for Chevron
USA, Inc.
Chevron USA, Inc. is
a subsidiary of the Chevron Corp.
Sam Nunn was a
director at the Chevron Corp. and is co-chairman & CEO for
the Nuclear Threat Initiative (think tank).
Carnegie
Endowment for International Peace (think tank) was a
funder for the Nuclear Threat Initiative (think tank).
Open Society Foundations was a funder for the Carnegie
Endowment for International Peace (think tank).
George Soros is the founder & chairman for the Open
Society Foundations, a board member for the International
Crisis Group, a member of the Bretton Woods Committee and
was the chairman for the Foundation to Promote Open Society.
Foundation to Promote Open Society was a funder for the Carnegie
Endowment for International Peace (think tank).
Moises Naim was
a minister of trade and industry for Venezuela, a board member for
the International Crisis Group, is a member of the Bretton
Woods Committee, a global board member for the Open Society
Foundations and a fellow at the Carnegie Endowment for
International Peace (think tank).
Andrew Carnegie was
the founder of the Carnegie Endowment for International Peace (think
tank) and the founder of the Carnegie Corporation of New York.
Ted Lieu was honored with the Carnegie
Corporation of New York's Great Immigrants Award,
has represented California's 36th congressional district in the United
States House of Representatives since 2023 and is a member of
the Congressional Progressive Caucus.
Astrid S. Tuminez was
a program officer at the Carnegie Corporation of New York and is the 7th President of
the Utah Valley University (Charlie Kirk
Shooting).
Carnegie
Corporation of New York was a funder for the Carnegie
Endowment for International Peace (think tank) the Nuclear
Threat Initiative (think tank) and a supporter for the American
Society for Muslim Advancement.
Carnegie
Endowment for International Peace (think tank) was a
funder for the Nuclear Threat Initiative (think tank).
Sam Nunn is co-chairman
& CEO for the Nuclear Threat Initiative (think tank) and was a
director at the Chevron Corp.
William J. Perry is
a director at the Nuclear Threat Initiative (think tank) an
advisory board member for the Truman National Security Project and
an advisory board member for the Truman Center for National Policy.
R. Hunter Biden is
a director at the Truman National Security Project, a director at
the Truman Center for National Policy and Joseph R. Biden
Jr’s son.
Kamala D. Harris is
an advisory board member for the Truman National Security Project an
advisory board member for the Truman Center for National Policy and
was vice president of the Joseph R. Biden Jr administration.
Madeleine K.
Albright was an advisory board member for the Truman National
Security Project and the president of the Truman Center for
National Policy.
Ira Lechner was
a director at the Truman Center for National Policy and is a
director at the Center for Arms Control and Non-Proliferation (think
tank).
Gavin Newsom is a director at the Center for Arms Control and Non-Proliferation (think tank), the California state government, governor and was invited to George Soros’s 2013 wedding reception.
George Wallerstein is an advisory board member for the Center
for Arms Control and Non-Proliferation (think tank), and a senior director
for the NAACP Legal Defense & Educational Fund.
Foundation to Promote Open Society was a funder for the NAACP
Legal Defense & Educational Fund.
George Soros was the chairman for the Foundation to Promote
Open Society, married in 2013 and Gavin Newsom was a guest
at his wedding reception.
Vernon E. Jordan
Jr. is a senior director at the NAACP Legal Defense &
Educational Fund and a senior counsel for Akin,
Gump, Strauss, Hauer & Feld, LLP.
Akin,
Gump, Strauss, Hauer & Feld, LLP is the lobby firm for Chevron
USA, Inc.
Chevron USA, Inc. is
a subsidiary of the Chevron Corp.
Sam Nunn was a
director at the Chevron Corp. and is co-chairman & CEO for
the Nuclear Threat Initiative (think tank).
Carnegie
Endowment for International Peace (think tank) was a
funder for the Nuclear Threat Initiative (think tank).
Open Society Foundations was a funder for the Carnegie
Endowment for International Peace (think tank).
George Soros is the founder & chairman for the Open
Society Foundations and was the chairman for the Foundation to
Promote Open Society.
Foundation to Promote Open Society was a funder for the Carnegie Endowment for International Peace (think tank).
Andrew Carnegie was the founder of the Carnegie Endowment for
International Peace (think tank) and the founder of the Carnegie
Corporation of New York.
Ted Lieu was honored with the Carnegie Corporation of New York's Great Immigrants Award, has
represented California's 36th congressional district in the United
States House of Representatives since 2023 and is a member of the Congressional Progressive Caucus.
Astrid S. Tuminez was a program officer at the Carnegie
Corporation of New York and is the 7th President of the Utah
Valley University (Charlie Kirk Shooting).
Carnegie
Corporation of New York was a funder for the Carnegie
Endowment for International Peace (think tank) the Nuclear
Threat Initiative (think tank) and a supporter for the American
Society for Muslim Advancement.
Carnegie
Endowment for International Peace (think tank) was a
funder for the Nuclear Threat Initiative (think tank).
Sam Nunn is co-chairman
& CEO for the Nuclear Threat Initiative (think tank) and was a
director at the Chevron Corp.
William J. Perry is
a director at the Nuclear Threat Initiative (think tank) an
advisory board member for the Truman National Security Project and
an advisory board member for the Truman Center for National Policy.
R. Hunter Biden is
a director at the Truman National Security Project, a director at
the Truman Center for National Policy and Joseph R. Biden
Jr’s son.
Kamala D. Harris is
an advisory board member for the Truman National Security Project an
advisory board member for the Truman Center for National Policy and
was vice president of the Joseph R. Biden Jr administration.
Madeleine K.
Albright was an advisory board member for the Truman National
Security Project and the president of the Truman Center for
National Policy.
Ira Lechner was
a director at the Truman Center for National Policy and is a
director at the Center for Arms Control and Non-Proliferation (think
tank).
Gavin Newsom is
a director at the Center for Arms Control and Non-Proliferation (think
tank), the California state government, governor and was
invited to George Soros’s 2013 wedding reception.
Resources:
Past Research
Huntington
Beach Mayor Burns to Newsmax: Newsom Pushing Anti-American Agenda (Connecting
the Dots: Gavin Newsom, The Independent Task Force on Immigration and America's
Future, ACORN, Barack Obama, Sidley Austin LLP, Commercial Club of Chicago, The
California state government & Soros Funding, All Networking) (Past Research on Gavin Newsom)
Saturday,
January 4, 2025
https://thesteadydrip.blogspot.com/2025/01/huntington-beach-mayor-burns-to-newsmax.html
Gavin
Newsom Blames NRA for Baton Rouge Police Shootings (Past
Research on Gavin Newsom)
Tuesday,
July 19, 2016
https://thesteadydrip.blogspot.com/2016/07/gavin-newsom-blames-nra-for-baton-rouge.html
Chevron
Donating to Inaugural Committee, Spokesperson Says (Connecting the Dots:
Amazon, Breakthrough Energy Coalition, Facebook (Meta), Goldman Sachs, The
Chevron Corp. & Soros Funding, All Networking) (Past
Research on Chevron)
Thursday,
January 9, 2025
https://thesteadydrip.blogspot.com/2025/01/chevron-donating-to-inaugural-committee.html
Newsom
Says He'll Cut State Funding for California Colleges That Sign Deal With Trump
Admin (Connecting the Dots: California Gov. Gavin Newsom, The Center for Arms
Control and Non-Proliferation, The Truman Center for National Policy, Kamala D.
Harris, Hunter Biden, The American Federation of Teachers & Soros Funding,
All Networking) (Past Research on the Center for
Arms Control and Non-Proliferation & California Gov. Gavin Newsom)
Saturday,
October 4, 2025
https://thesteadydrip.blogspot.com/2025/10/newsom-says-hell-cut-state-funding-for.html
Rep.
Jordan to Letitia James: Comply or Face Subpoena (Connecting the Dots: Judge
Juan Merchan, Letitia James, Alvin Bragg, Matthew Colangelo’s Wife Anne
Kimberly Small, Jonathan Soros, Lisa Gilford, NAACP Legal Defense and
Educational Fund, Laurence Fink, Jerome Powell & Soros Funding, All
Networking) (Past Research on the NAACP Legal
Defense & Educational Fund)
Sunday,
June 22, 2025
https://thesteadydrip.blogspot.com/2025/06/rep-jordan-to-letitia-james-comply-or.html
Rep.
Sheri Biggs to Newsmax: Dems' Hypocrisy 'Overwhelming' on Iran Strikes, DHS
Funding (Connecting the Dots: House Minority Leader Hakeem Jeffries, Iran, The
Nation of Islam, Hakeem Jeffries, China & The Carnegie/Soros Funding, All
Networking) (Past Research on the Carnegie)
Thursday,
March 5, 2026
https://thesteadydrip.blogspot.com/2026/03/rep-sheri-biggs-to-newsmax-dems.html
Madeleine
Albright, 1st Female US Secretary of State, Dies at 84 (Connecting Her Dots In
The Soros Network) (Past Research on William J.
Perry, Madeleine Albright, Hunter Biden & Kamala Harris)
https://thesteadydrip.blogspot.com/2022/03/madeleine-albright-1st-female-us.html
Venezuela,
Colombia Border Areas Hopeful as Reopening Looms (Connecting the Dots:
Venezuela, Colombia & Soros Funded Think Tanks) (Past
Research on Venezuela)
Monday,
August 22, 2022
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