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Newsom's Green Crusade Backfires: Valero Takes $1.1B Hit to Flee California's Crushing Regulations ⛽🔥Valero Energy just announced plans to idle or cease operations at its Benicia refinery by April 2026, booking a $1.1 billion impairment charge on its California assets.Citing Newsom's tough regulations—like mandatory minimum fuel inventories, increased oversight on maintenance/plans, strict emissions rules under cap-and-trade, and the state's aggressive push to phase out fossil fuels (e.g., banning new gas car sales by 2035)—plus sky-high operational costs and long-term uncertainties, they're joining Phillips 66 in exiting CA refining.When extreme "green" policies drive companies out—even at massive cost—it's a wake-up call. California's climate crusade is turning into an energy nightmare: fewer refineries, more imports, job losses, and even higher gas prices ahead. 🚩⛽