With average gasoline prices topping $4 a gallon, fewer Southern California residents say they plan to take a leisure trip over spring break, according to a survey by the Auto Club of Southern California.
The annual survey of Auto Club members found that 47% said they plan at least one leisure trip this spring break season, compared to 57% in 2012 and 55% in 2011.
SAN ANTONIO–Valero Energy Corp. VLO -4.27% won’t try to sell its two California refineries but will instead attempt to bring in low-priced, domestically produced crude to make them more profitable, the company’s chief executive said.
Last year, Valero was said to be trying to sell its 170,000 barrels-a-day Benicia refinery outside San Francisco and its 78,000 barrels-a-day Wilmington refinery outside Los Angeles as refiners in the state were preparing to deal with the impact of stringent emissions laws.
“Frackademia” — shorthand for bogus science, economics and other research results paid for by the oil and gas industry and often conducted by “frackademics” with direct ties to the oil and gas industry — has struck again in California.