Chevron vs. California: The New Fuel Regulatory Law Debate

Zacks12-02

Chevron Corporation CVX has expressed concern over the ABX2-1 bill, recently enacted by the state to enforce the oil refineries to maintain a minimum fuel stock. Although the regulators of California ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2488952808?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/51tLtP3zn1cfamzFZS4A9Q--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/47a5c91ee32230c2f83ce3b58ad1263c","is_english":true,"pubTime":"2024-12-02 20:29","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2488952808","market":"us","top_or_hot":-1,"title":"Chevron vs. California: The New Fuel Regulatory Law Debate","media":"Zacks","content":"<div>\n<p>Chevron Corporation CVX has expressed concern over the ABX2-1 bill, recently enacted by the state to enforce the oil refineries to maintain a minimum fuel stock. Although the regulators of California ...</p>\n\n<a href=\"https://finance.yahoo.com/news/chevron-vs-california-fuel-regulatory-122900085.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chevron vs. California: The New Fuel Regulatory Law Debate</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChevron vs. California: The New Fuel Regulatory Law Debate\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-02 20:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/chevron-vs-california-fuel-regulatory-122900085.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chevron Corporation CVX has expressed concern over the ABX2-1 bill, recently enacted by the state to enforce the oil refineries to maintain a minimum fuel stock. Although the regulators of California ...</p>\n\n<a href=\"https://finance.yahoo.com/news/chevron-vs-california-fuel-regulatory-122900085.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0234572021.USD","symbol_name":"高盛美国核心股票组合Acc","start_time":0,"source_url":"https://finance.yahoo.com/news/chevron-vs-california-fuel-regulatory-122900085.html","article_id":"2488952808","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/51tLtP3zn1cfamzFZS4A9Q--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/47a5c91ee32230c2f83ce3b58ad1263c"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2488952808","pubTimestamp":1733142540,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Chevron Corporation CVXhas expressed concern over the ABX2-1 bill, recently enacted by the state to enforce the oil refineries to maintain a minimum fuel stock. Although the regulators of California endorsed the legislation to stabilize the fuel supply and control the oil prices, the same has been considered flawed by the oil major.California has always been concerned about high gas prices, leading to its constrained relationship with oil companies. Geographically, the state is isolated from the U.S. Gulf Coast and Midwest refining centers, which compels it to either produce all its motor fuels or import from Asia. Therefore, to alleviate the fuel supply disruptions and diminish price volatility, the state, via the California Energy Commission, forced the oil companies to maintain a minimum fuel inventory and oversee the required maintenance and turnarounds of their refineries. The regular maintenance of oil refineries will also result in a minimal impact of production losses on fuel p","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0234572021.USD":"高盛美国核心股票组合Acc","BK4588":"碎股","BK4550":"红杉资本持仓","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","CVX":"雪佛龙","BK4179":"石油天然气设备与服务","LU0053671581.USD":"摩根大通美国小盘成长股 A(dist)","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","BK4581":"高盛持仓","BK4171":"工业房地产投资信托","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU0368265418.SGD":"Blackrock World Energy Fund A2 SGD-H","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU0266512127.USD":"摩根大通环球自然资源 A(acc)","LU0456854461.SGD":"JPMorgan Funds - Global Natural Resources A (acc) SGD","LU0300736492.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) INC","LU0300736062.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) ACC","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","BK4201":"综合性石油与天然气企业","BK4213":"石油与天然气的勘探与生产","LU0122376428.USD":"贝莱德世界能源基金A2","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","IE00B3CCJ963.GBP":"GUINNESS GLOBAL ENERGY \"C\" (GBP) ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","BK4592":"伊斯兰概念","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","BK4144":"石油与天然气的储存和运输","BK4570":"地缘局势概念股","TRGP":"Targa Resources Corp","IE00B2Q91V27.USD":"GUINNESS GLOBAL ENERGY \"C\" (USD) ACC","LU1929549753.HKD":"FRANKLIN INCOME \"A\" (HKD) INC","BK4585":"ETF&股票定投概念","IE00BGHQF524.EUR":"GUINNESS GLOBAL ENERGY \"C\" (EUR) ACC","FTI":"德希尼布FMC","BK4534":"瑞士信贷持仓","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0054578231.USD":"BGF SYSTEMATIC SUSTAINABLE GLOBAL SMALLCAP \"A2\" (USD) ACC","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD)  INC","MNR":"Mach Natural Resources L.P.","BK4566":"资本集团","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","LU0278409577.USD":"MANULIFE GLOBAL FUND-GLOBAL RESOURCES FUND \"AA\" (USD) INC","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","BK4559":"巴菲特持仓","LU0868494708.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU0788109394.HKD":"BGF WORLD ENERGY \"A2\" (HKDHGD) ACC"},"translate_title":"雪佛龙与加州：新燃料监管法辩论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TRGP":1,"FTI":1,"CVX":1,"MNR":0.9},"content_text":"Chevron Corporation CVX has expressed concern over the ABX2-1 bill, recently enacted by the state to enforce the oil refineries to maintain a minimum fuel stock. Although the regulators of California endorsed the legislation to stabilize the fuel supply and control the oil prices, the same has been considered flawed by the oil major.\nAn Insight Into the New Mandate\nCalifornia has always been concerned about high gas prices, leading to its constrained relationship with oil companies. Geographically, the state is isolated from the U.S. Gulf Coast and Midwest refining centers, which compels it to either produce all its motor fuels or import from Asia. Therefore, to alleviate the fuel supply disruptions and diminish price volatility, the state, via the California Energy Commission, forced the oil companies to maintain a minimum fuel inventory and oversee the required maintenance and turnarounds of their refineries. The regular maintenance of oil refineries will also result in a minimal impact of production losses on fuel prices. The new bill is also accompanied by a strict penalty of $100,000 for each day of noncompliance.\nCVX’s Concern: Risks Outweigh Rewards\nCVX expressed disapproval of the new bill, arguing that the regulations would have two adverse consequences — increased fuel shortages and a permanent rise in consumer fuel prices. The company also cautioned that the bill would not only affect California consumers but also extend its risks beyond the state, affecting its neighbors in Arizona and Nevada. Therefore, CVX, via its letter, urged the lawmakers to proceed with caution, keeping the broader implications in mind. The company also dismissed the state’s perspective of higher prices, leading to higher profits, stating that this perspective is misleading and increases the complexity of new regulations.\nCVX’s Zacks Rank and Key Picks\nCalifornia-based energy major Chevron is one of the largest publicly traded oil and gas companies, with operations that span almost every corner of the globe. However, the company is grappling with high sensitivity to oil price fluctuations and relatively expensive valuation. Currently, CVX has a Zacks Rank #3 (Hold).\nInvestors interested in the energy sector might look at some better-ranked stocks like Mach Natural Resources LP MNR, TechnipFMC plc FTI and Targa Resources Corp. TRGP. While Mach currently sports a Zacks Rank #1 (Strong Buy), TechnipFMC and Targa Resources each carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.\nMach Natural Resources LP is an independent upstream oil and gas company that focuses on the acquisition, development and production of oil, natural gas and natural gas liquids reserves. The Zacks Consensus Estimate for MNR’s 2024 earnings indicates 205.56% year-over-year growth.\nLondon-based TechnipFMC plc is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The Zacks Consensus Estimate for FTI’s 2024 earnings indicates 251.11% year-over-year growth.\nHouston, TX-based Targa Resources Corp. is a premier energy infrastructure company and a leading provider of integrated midstream services in North America. The Zacks Consensus Estimate for TRGP’s 2024 earnings indicates 71.58% year-over-year growth.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nChevron Corporation (CVX) : Free Stock Analysis Report\nTechnipFMC plc (FTI) : Free Stock Analysis Report\nMach Natural Resources LP (MNR) : Free Stock Analysis Report\nTarga Resources, Inc. (TRGP) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2488952808"}