<div id="readability-page-1">California's oil refineries are disappearing fast. The state now has just 14 refineries. They process about 1.6 million barrels of crude oil each day. That's down from 42 refineries 40 years ago. Daily fuel demand in the state sits at around 1.4 million barrels. This leaves only a small gap between supply and need. Experts in energy economics say losing even one big refinery could close that gap. It would spike prices for gasoline, diesel, and...</div>

<p>Phillips 66 has shut down its operations in California, leaving a $2 billion cleanup bill with no clear plan for payment. The state now has only 14 refineries, processing 1.6 million barrels of crude oil daily, down from 42 refineries 40 years ago. This reduction in capacity could lead to a spike in gasoline and diesel prices due to the narrow gap between supply and demand.</p>

Phillips 66 shuts down in California with 'no clear plan' for who pays $2B cleanup bill