‘I need Chevron’: The oil company at the center of the California governor’s race
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- Chevron reported $12.3 billion in profit last year.
- Chevron owns two of California’s six refineries, supplying roughly one‑third of the state’s gasoline.
- Chevron contributed to Xavier Becerra’s campaign, leading Becerra to say “I need Chevron” in a televised interview.
- Chevron’s refinery share gives it tremendous leverage over California’s energy transition and gas‑price dynamics.
Why it matters: California drivers face higher fuel costs if the transition stalls, while Big Oil, especially Chevron, gains political influence and profit stability from the state’s reliance on its refineries.
