Phillips 66 (NYSE:PSX) has around 600 employees and 300 contractors at the refinery. Some of the retained employees are expected to be transferred to the Los Angeles marine oil terminal, according to reports.
https://finance.yahoo.com/news/phillips-66-psx-start-laying-042238309.html
I hope those mobile and able to relocate from the God-ridden state that is California see this closure as a blessing—especially those who were already considering fleeing. Another door will open and likely the opportunity will be better than what you are leaving.
I do understand the decision to leave CA but I hate it for our co-workers. Good people will have their lives disrupted.
Agree. Blame hostile political environment and regulatory overreach in California. It has prevented the investment and upgrades needed to be competitive, and has made costs so high as to be untenable. The west coast is heading this direction everywhere, and P66 is one of several exiting California.
Don’t be fooled by the fake concern on gas prices and talk that the oil companies are to blame from California political appointees and vocal few with access to news media. California and the activists are getting exactly what they wanted. And those least able to afford the increase in gas prices will feel the impact the most— but that impact to people is a justified means to an end for the folks that want oil and gas to go away permanently without a real plan to replace it.
Our hearts go out to our brothers and sisters in LAR from elsewhere in the US. We are here to welcome you to another facility with open arms if you are able to relocate, and hoping you land on your feet if you are not.
This was to be expected since we’re closing down the place… decade of losses later. And before those in refining jump at my comment, there is NO profit in staying in Cali, no matter how much capital we could’ve infused into those assets. Thank you local and state officials for that.