The upcoming closures by refining giants Phillips 66 and Valero Energy have triggered an about-face from Democratic Gov. Gavin Newsom and state regulators to try to keep the fuel complexes open after years of rules that cut into their bottom lines. It's too late to save Phillips 66's Los Angeles refinery, which is processing its final shipments of crude oil in October before closing before the end of this year.
Kaitlan Collins pressed Peter Navarro on why China, which imports more Russian oil than India, wasn't treated similarly regarding tariffs, highlighting the discrepancies in trade policies.