The news is all over that Chevron's planning to close its Richmond Refinery, but in Richmond, California and the East Bay of the San Francisco Bay Area, it's seen as kind of a joke. While Chevron reports that it would like to remain operating the 100-year-old facility, it also has been beset with a number of economic problems that have made the decision to remain in Richmond more of a business consideration and less of an emotional one. First, the World's new export king, China has planned to slow its country's economic growth by tightening its bank lending practices to curb inflation. While China's inflation problems have resulted in a stronger U.S. Dollar (proof that Congressman Ron Paul is consistently wrong in his criticism of U.S. economic stimulus spending), its causing a drop in crude oil futures. China is the largest consumer of crude oil, so this news will hurt that industry. Add to that the near-recessionary U.S. Economy and you have a problem that...
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