By mid-January, news sources have thoroughly exhausted reports on American’s Yuletide spending and attention inevitably turns to the day of reckoning: Tax Day.
Limiting California’s access to the exact types of crude oil its facilities need will only increase prices for the state’s consumers and travelers. Drivers are already dealing with gasoline prices in excess of $5 per gallon and the highest fuel taxes of the 50 states. Confining energy producers and consumers to a smaller pool of crude oil will make a very sensitive price environment that much worse.
Right now, members of Congress are debating a series of taxes as part of the multi-trillion-dollar reconciliation package that could make the crude oil that runs through U.S. refineries more expensive.
