Two refineries in California are shutting down, due to the CA Gavin Newsom regulations making it impossible to function profitably.
California already has the highest gasoline prices in the USA. And it is about to get worse.
Due to the Jones Act, the gasoline is exported from Texas to the Bahamas, then imported from the Bahamas to California. The Jones Act requires American flagged vessels if it were to go from Texas to California directly. But by exporting it first to the Bahamas (another country) that sidesteps the Jones Act. This adds weeks of shipping time, but ultimately saves a few $$$ per barrel. There are not many vessels compliant with the Jones Act.
The real problem is lack of refineries in California and lack of pipelines between Texas and California.
WallStreetMav
https://x.com/i/status/202...
California already has the highest gasoline prices in the USA. And it is about to get worse.
Due to the Jones Act, the gasoline is exported from Texas to the Bahamas, then imported from the Bahamas to California. The Jones Act requires American flagged vessels if it were to go from Texas to California directly. But by exporting it first to the Bahamas (another country) that sidesteps the Jones Act. This adds weeks of shipping time, but ultimately saves a few $$$ per barrel. There are not many vessels compliant with the Jones Act.
The real problem is lack of refineries in California and lack of pipelines between Texas and California.
WallStreetMav
https://x.com/i/status/202...
06:14 AM - Feb 18, 2026
Only people mentioned by Patriotsandthelike in this post can reply
Jack Seitzinger
@Jrseitzinger
18 February, 05:21
In response Joelle Clista to her Publication
Buckeye Bahamas Hub (BORCO) and the Freeport terminal (duty free) where blending occurs subverts Jone Act legally. The process was approved by Customs and Border Patrol in 2014. Really the only loophole under the Jones Act not fought against
Buckeye’s board is almost all former Oil and Gas American executives.
Buckeye was acquired in 2019 by an Australian investment firm IMF Investors who are owned by…get this…17 Australian pension funds.
A rabbit hole to go down, but the profiteers are of the very same dirty politicians on both side.
Mike Johnson is paid well and the California driver pays for it.
Buckeye’s board is almost all former Oil and Gas American executives.
Buckeye was acquired in 2019 by an Australian investment firm IMF Investors who are owned by…get this…17 Australian pension funds.
A rabbit hole to go down, but the profiteers are of the very same dirty politicians on both side.
Mike Johnson is paid well and the California driver pays for it.
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