Today in how not to get gas prices down on the West Coast news, it was announced that California is on the precipice of losing two more major refineries that produce 14% of the state's gasoline due to suffocating regulation.

Valero may shut down its two California refineries, according to Just The News. 

With existing closures already requiring California to import 8% of its supply, the state could soon face a greater dependence on refined imports, adding to its reliance on Middle Eastern and South American crude.

Valero CEO Lane Riggs explained last week that profit margins are already low from its refinery business and says the company has already “minimized strategic [capital expenditures]”.