Phillips 66 has announced plans to permanently shut down its Los Angeles-area refinery, impacting over 900 workers. The decision comes shortly after California Governor Gavin Newsom signed new regulations aimed at the oil industry. The closure is part of a broader trend, as several oil companies reevaluate their operations in California due to increasing regulatory pressures. With the pending shutdown, Phillips 66 joins a growing list of refiners exiting the state, highlighting the challenges faced by the fossil fuel sector in adapting to a changing regulatory environment and the push towards renewable energy.