<div id="readability-page-1">California's oil refineries are closing fast. The state now runs 14 refineries producing 1.6 million barrels daily—down from 42 refineries in 1984. Demand stands at around 1.4 million barrels per day. That leaves only a 16 percent safety margin. One major closure will wipe out that buffer entirely. This threatens fuel availability and prices for 28 million Californians. Energy experts warn the state faces a dangerous supply shortage.</div>

<p>California's refining capacity has decreased by 25% due to the shutdown of Phillips 66, leaving a $2 billion cleanup bill. The state now operates 14 refineries, producing 1.6 million barrels daily, with demand at 1.4 million barrels per day. This leaves a 16% safety margin, and any further closures could threaten fuel availability and prices for 28 million residents. Energy experts warn of a dangerous supply shortage.</p>

California loses 25% of refining capacity as Phillips 66 shuts down—leaving $2B cleanup bill behind