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>In two weeks, the Hong Kong-flagged tanker will have fully unloaded at the Marathon Petroleum terminal and departed again for distant waters. After that, California must figure out how to replace some 200,000 barrels of oil a day that will no longer be arriving from the Persian Gulf.

Approximately 15% shortfall incoming for California's refineries, which compete for global oil, without many domestic ties.

Submission Statement: This will increase inflationary pressures since 1/3 of US imports move through the Ports of LA and Long Beach as diesel prices feed through to businesses and consumers.

Per Warsh’s testimony to the Senate: “What I'm most interested in is: What's the underlying inflation rate? Not: What's the one-time change in prices because of a change in geopolitics or change in beef?”

Warsh wants to change to Trimmed Mean PCE inflation, where the rate is 2.3% vs 3.3% as of March 2026.