In the process, BP will reshape California's energy landscape, where Arco for decades has vied with Chevron Corp. for the top spot in fuel retailing and refining.
Originally Posted by Charles Langley, senior gasoline analyst at the Utility Consumers Action Network in San Diego.
"Only if we get a new player buying this refinery could it be good for consumers," he said. "We used to have 21 refineries. Now we have 10 refineries owned by seven companies, and we've already seen consolidation that is anti competitive."