tag:blogger.com,1999:blog-36856489.post8650329633970153077..comments2023-10-12T07:43:47.713-04:00Comments on taxmanblog: Life in "Progress" State - California editionUnknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-36856489.post-24882571155403813592012-10-05T19:52:13.788-04:002012-10-05T19:52:13.788-04:00Just great. I used to live there, still have relat...Just great. I used to live there, still have relatives there. I used to work in the oil/gas industry in California back, oh 1994-1996 (for a company that eventually became Valero), as a financial analyst.<br /><br />The BIG problem with California is that it is a closed market for gasoline. Due to the strict regulation on gasoline, companies CANNOT import gasoline INTO California. Refineries in the state had to make billions of dollars in upgrades to their refineries to meet the requirements – hence the reason CA gasoline is always 5-10 cents above other states – it’s more expensive to refine. But, if the margin is better, companies are always welcome to *export* the gasoline, either to other states, or in one case I remember, by tanker to other countries.Becbeqnoreply@blogger.com