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Chevron says it could close more California refineries if proposed changes to the state’s cap-and-trade program are approved. The company says the rules would raise operating costs and threaten fuel supplies. Chevron says possible closures at its Richmond and El Segundo facilities would come in addition to two refineries already set to close or convert operations. Company officials warn gas prices could rise by more than a dollar by 2030 and say hundreds of thousands of petroleum-related jobs could be affected. The California Air Resources Board says the changes are necessary to meet the state’s climate goals.
