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Gavin Newsom's office shared a screenshot of a news article detailing how the oil giant expected first-quarter earnings to rise between $1.6 billion and $.
Chevron expects first-quarter earnings to rise by $1.6–$2.2 billion due to higher oil prices.
KEY POINTS
- Chevron warned Newsom that proposed Cap-and-Invest amendments could close refineries and spike gas prices.
- Chevron has started purchasing oil from Sable Offshore Corp amid Newsom's opposition to renewed oil pumping.
- Californians have paid $24–30 billion extra on gasoline since January 2025 compared to the U.S. average.
COMPANIES
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