What is wrong with California?

[PaloAltoCougar]

California passes a new wealth tax confiscating 5% of billionaire net worth - starting in 2026. Billionaires flee the state in mass.

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Have you assumed Ted's mantle of California bashing with bogus or at least misleading tweets? The wealth tax is a proposed initiative that I don't think has mustered the requisite number of signatures but could get on the ballot in November. I doubt very much it will pass. Billionaires have multiple crash pads and buy houses around the country and the world. Valero isn't leaving the state but will likely repurpose a refinery to become an import facility Talks are still ongoing. And I smile at Balaji's Trumpspeak reference to the "failed state of California.' I guess at the world's fourth largest economy we're joining the failing New York Tims on the ash heap of history, presided over by Barack Hussein Obama.

But sure, California has major issues. I'd write more but i'm heading out to play golf in this hell hole.

[Flystripper]

I always think its hilarious how the vast majority of the California bashing comes from people who don't live here. We will be fine. Taxes are high, housing prices suck even more than the traffic but we just passed Japan as the worlds 4th largest economy must be doing some things right

[Jeff Lebowski]

Have you assumed Ted's mantle of California bashing with bogus or at least misleading tweets? The wealth tax is a proposed initiative that I don't think has mustered the requisite number of signatures but could get on the ballot in November. I doubt very much it will pass. Billionaires have multiple crash pads and buy houses around the country and the world. Valero isn't leaving the state but will likely repurpose a refinery to become an import facility Talks are still ongoing. And I smile at Balaji's Trumpspeak reference to the "failed state of California.' I guess at the world's fourth largest economy we're joining the failing New York Tims on the ash heap of history, presided over by Barack Hussein Obama.

But sure, California has major issues. I'd write more but i'm heading out to play golf in this hell hole.

Correct. Proposed initiative. But it is worded to be retroactive to January 1, 2026, if enacted. So that is why the exodus has already started. Who could have seen that coming?! Mamdani should take note.

All of the links I can find on Valero indicate they are idling the refinery in April. Here is Newsom's spin:

https://www.gov.ca.gov/2026/01/06/go...finery-update/

I have a son who works for a high-tech firm in California. I would love for the company to stay there long term. It is a wonderful place to live. Hence my interest in the topic.

[YOhio]

I always think its hilarious how the vast majority of the California bashing comes from people who don't live here. We will be fine. Taxes are high, housing prices suck even more than the traffic but we just passed Japan as the worlds 4th largest economy must be doing some things right

I don't think anyone wants California to fail. It's one of our greatest success stories in American/world history. It's rich in recreation, natural resources, agriculture, defense, aviation, manufacturing, research, tech, entertainment, finance, shipping, and the list goes on. Name an industry and you'll find successful examples in California. Which is why I find it's political and governance climate there is so baffling.

[falafel]

Most people don't understand what a shit show California regulations are for fuel in their state. Valero produced about 20% of that fuel. You will see gas prices increase significantly with this move.

And wait for Spring shutdown season for it to get even worse.

Is that going to bleed over into neighboring states and sinful cities?

[Jeff Lebowski]

Is that going to bleed over into neighboring states and sinful cities?

Not according to the Nevada Globe!

https://thenevadaglobe.com/articles/...of-california/

Meanwhile, Nevada keeps winning.

As California drives businesses out with red tape and mandates, Nevada has positioned itself as a refuge for companies looking for sanity, stability, and respect for free enterprise. Lower taxes, a lighter regulatory touch, and a government that actually wants employers have made Nevada a natural landing spot. From logistics and manufacturing to tech and energy services, companies fleeing California are finding that Nevada offers what Sacramento no longer can: certainty.

This contrast could not be sharper. California’s leadership believes it can bully industry into submission. Nevada understands that prosperity comes from partnership, not punishment. One state lectures, mandates, and micromanages. The other welcomes investment and growth.

Valero’s billion-dollar exit should be a five-alarm fire for California Democrats, but don’t expect a course correction. Newsom and his allies remain committed to doubling down, even as refineries close, prices climb, and jobs vanish. Ideology comes first. Reality comes later.

For Nevada, the lesson is equally clear. The Silver State should keep doing exactly what it is doing. As long as California keeps pushing companies out, Nevada should keep rolling out the welcome mat. Valero’s departure is not just a loss for California. It is another reminder that bad policy doesn’t stay theoretical. Eventually, it sends the bill, and this time, it’s a billion dollars.

[bluegoose]

Also, can we call BS on that picture with its gas prices? I live here and travel all over the state. I current pay $3.49 per gallon. Not much different when we were in Sacramento or the Bay Area last week, or in Palm Springs a couple of months ago.

[The_Tick]

Is that going to bleed over into neighboring states and sinful cities?

Gas prices tend to be cheaper in Nevada than California because of the tax levels aren't the same, and if I remember correctly...Nevada doesn't have the same fuel regulations that California has. That is where California gets hit with the cost. There are currently only 13 refineries that produce the California mandated fuel blend. 2-3 of those are slated for closure which will drive costs up. And with fewer refineries, that annual shutdowns will be staggered and will drive down availability during that time which will drive up costs.

[Jeff Lebowski]

Also, can we call BS on that picture with its gas prices? I live here and travel all over the state. I current pay $3.49 per gallon. Not much different when we were in Sacramento or the Bay Area last week, or in Palm Springs a couple of months ago.

Really? I have never seen it less than $6 or so around Monterey.

[dabrockster]

Also, can we call BS on that picture with its gas prices? I live here and travel all over the state. I current pay $3.49 per gallon. Not much different when we were in Sacramento or the Bay Area last week, or in Palm Springs a couple of months ago.

Average Gas prices in California are $4.39-$5.20 a gallon from regular to premium. I guess you are getting a discount.. Costco was at $3.89 in Anaheim.

That photo may not be totally accurate to today but.. Gas is much more expensive than the national average ($2.90)..

[Jeff Lebowski]

Average Gas prices in California are $4.39-$5.20 a gallon from regular to premium. I guess you are getting a discount.. Costco was at $3.89 in Anaheim.

That photo may not be totally accurate to today but.. Gas is much more expensive than the national average ($2.90)..

It is down to $5.50 in Monterey now!

[Joe Public]

Also, can we call BS on that picture with its gas prices? I live here and travel all over the state. I current pay $3.49 per gallon. Not much different when we were in Sacramento or the Bay Area last week, or in Palm Springs a couple of months ago.

I paid $4.79/gallon last night.

[YOhio]

ATTN: bluegoose.
RE: Request for permission to call BS on gas prices
DISPOSITION: Denied

[Northwestcoug]

It is down to $5.50 in Monterey now!

haven't been down there since my daughter moved a few years ago. But 5-6/gallon was usually the range.

[Moliere]

Most people don't understand what a shit show California regulations are for fuel in their state. Valero produced about 20% of that fuel. You will see gas prices increase significantly with this move.

And wait for Spring shutdown season for it to get even worse.

I’m not sure it’ll be a significant increase. It’ll increase because of transportation costs going up since gas will have to be imported from other states, but the oil will be refined somewhere else. It’s a commodity, after all.

You are definitely correct that regulations are pretty much the sole reason for high gas prices. Well, taxes too. Regulations and taxes.