Lodi Eye
LodiEye provides additional information on trending stories / topics published by local media and shared on local social media accounts.
California Oil Industry: Refinery Closures, Pipeline Shutdowns, and the Road Ahead
California's petroleum sector is undergoing a structural transformation that is reshaping how oil is extracted, transported, and refined across the state. With major refinery closures eliminating approximately 17-20% of in-state capacity, critical pipelines shutting down, and an accelerating shift toward imported fuels, the state faces significant near-term price volatility and supply uncertainty.
The Petrodollar System & Saudi Arabia's Evolving Geopolitical Relationships
One of the most important clarifications in understanding U.S.-Saudi economic relations: there is no official agreement between the United States and Saudi Arabia to sell oil in US dollars. Saudi Arabia’s evolving relationships with China, Iran, and Saudi Arabia’s neighbors can impact US foreign policy, its economy and currency.
US, Venezuela and BRICS
On January 3, 2026, the United States conducted Operation Absolute Resolve, which had immediate and significant ramifications for the BRICS bloc, its members' strategic interests, and the broader transition toward a multipolar international order.
US Oil Companies in Venezuela - January 2026
As of January 9, 2026, Chevron remains the only US oil company with active operations in Venezuela. The Trump administration is aggressively courting major US oil companies to invest in Venezuela's deteriorating oil infrastructure, claiming potential investments of $100 billion and rapid production increases.