Gas prices in California may hit a staggering $8.44 per gallon by the end of 2026, driven by the shutdown of two key refineries and the implementation of new state fuel regulations, according to a new analysis. The findings, published by University of Southern California professor Michael A. Mische, project that these closures—representing one-fifth of the state’s refining capacity—could create a severe supply shortfall amid steady demand.
The U.S. Environmental Protection Agency (EPA) issued an emergency waiver to allow gasoline containing higher levels of ethanol to be sold during the summer months.
Chevron CEO Mike Wirth rejected fears of an imminent U.S. recession during a Tuesday appearance on CNBC’s “Squawk Box,” emphasizing long-term investment strategy over short-term economic jitters. While acknowledging a slowdown in economic growth, Wirth maintained there were no current indicators pointing to a recession.
Despite a nationwide drop in gas prices, California drivers continue to face prices near $5 per gallon—thanks in large part to state-imposed taxes and regulations, not oil companies, according to state data and industry experts.
In a historic ruling with major implications for Louisiana's energy sector and environmental restoration, a jury in Plaquemines Parish on Friday ordered Chevron to pay $744 million in damages for its role in coastal wetlands destruction. The verdict is the first of 42 lawsuits filed since 2013 by coastal Louisiana parishes targeting decades of alleged environmental violations by oil and gas companies.
The former site of Pennsylvania’s largest coal-fired power plant is being repurposed into the largest natural-gas powered data center campus in the United States. Officials announced Tuesday that the $10 billion redevelopment project in Homer City will become a critical hub for powering artificial intelligence and high-performance computing technologies.
President Donald Trump revoked the security clearances of 51 former intelligence officials who signed a letter claiming Hunter Biden's laptop was part of a "Russian information operation."
