Risk Factors Update Summary
- Enhanced scrutiny on ESG matters and developments may cause our Class A common stock to decline.
- Costs incurred to meet new emissions standards at our Martinez refinery may be significant.
- We incurred $762 million in RINs costs in 2023, compared to $1,225.5 million in 2022.
- The Governor of California directed regulatory processes concerning penalties for excessive profits.
- Recent record refining industry profits raised concerns about windfall profits and potential legislation.
- Potential legislation in California and other jurisdictions could adversely impact our operations.
- We may incur additional indebtedness, affecting our ability to grow and maintain liquidity.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1534504&owner=exclude
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