The California Air Resources Board is proposing to lower the cap on pollution from refineries by pulling 118.3 million allowances between 2027 and 2030, and increasing its carbon reduction target to 90 percent by 2045. Chevron President Andy Walz warned that this move could result in economic chaos and higher gas prices in California. Walz also warned that the regulations would disrupt the state's fuels market and threaten critical energy and national security assets. The proposed changes are currently under review by the California Air Forces Board.