Chevron says California plays risky game with fuel

Supply uncertainty: A file photo of a Chevron petrol station. The company says California’s policies make it hard to invest in refinery capacity. — Bloomberg

CALIFORNIA: Chevron Corp warns its home state of California’s climate policies are a “dangerous game” that risk causing gasoline price spikes and shortages.

The premium California drivers pay for gasoline over the national average is likely to rise significantly if state legislators continue enacting policies to discourage petroleum production, Andy Walz, who leads the oil giant’s US refining division, said in an interview.