Valero Eats $1.1 Billion Loss to Escape Newsom’s Toxic California

“…Newsom’s policy decisions have made California an increasingly hostile state in which to conduct business. And few industries have suffered more under California’s regulatory assault than fossil fuels, where relentless overreach has driven companies out of the state. The latest major corporation to join the stampede is Valero Energy. The company is so determined to flee California’s overregulation that it was willing to absorb a staggering $1.1 billion loss to get out. Valero will shutter operations by April 2026…”