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1. www.reuters.com › sustainability › climate-energyCalifornia and Big Oil are splitting after century-long affair

   www.reuters.com › sustainability › climate-energy

   Jan 29, 2024 · The two largest U.S. oil producers, Exxon Mobil (XOM.N) and Chevron (CVX.N), will formally disclose a combined $5 billion writedown of California assets when they report fourth-quarter results.

   • Author: Sabrina Valle

2. www.politico.com › news › 2022/12/17Oil industry faces end of the road in California regardless ...

   www.politico.com › news › 2022/12/17

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   Dec 17, 2022 · The state’s prices at the pump climbed to nearly $3 above the national average in October, at $6.42 per gallon, while oil companies nearly doubled their year-over-year profits.

3. www.gov.ca.gov › 27 › california-beats-big-oil-againCalifornia beats Big Oil – again | Governor of California

   www.gov.ca.gov › 27 › california-beats-big-oil-again

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   2 days ago · SACRAMENTO – California notched another victory against Big Oil. The industry announced it is pulling its referendum aimed at repealing California’s law protecting neighborhoods from the dangerous impacts of drilling. The measure that would have appeared on this November’s ballot could have allowed the oil industry to keep drilling new ...

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5. finance.yahoo.com › news › analysis-california-bigAnalysis-California and Big Oil are splitting after century ...

   finance.yahoo.com › news › analysis-california-big

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   Jan 29, 2024 · (Reuters) - It is the end of an era for Big Oil in California, as the most populous U.S. state divorces itself from fossil fuels in its fight against climate change.

   • Author: Sabrina Valle

6. www.yahoo.com › news › analysis-california-big-oilAnalysis-California and Big Oil are splitting after century ...

   www.yahoo.com › news › analysis-california-big-oil

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   Jan 29, 2024 · The No.1 U.S. oil producer's asset writedown will cost about $2.5 billion and officially end five decades of oil production off the coast of Southern California. Chevron will also take charges...

   • Author: Sabrina Valle

7. ca.finance.yahoo.com › news › analysis-californiaAnalysis-California and Big Oil are splitting after century ...

   ca.finance.yahoo.com › news › analysis-california

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   Jan 29, 2024 · (Reuters) - It is the end of an era for Big Oil in California, as the most populous U.S. state divorces itself from fossil fuels in its fight against climate change. California's oil...

8. People also ask

   Is California the end of a big oil era?

   • It is the end of an era for Big Oil in California, as the most populous U.S. state divorces itself from fossil fuels in its fight against climate change. California's oil output a century ago amounted to it being the fourth-largest crude producer in the U.S., and spawned hundreds of oil drillers, including some of the largest still in existence.

   Analysis-California and Big Oil are splitting after century-long affair

   finance.yahoo.com/news/analysis-california-big-oil-splitting-184130187.html

   See all results for this question

   Does California have a decline in oil production?

   • Oil production in the state has been on a steady decline for almost four decades. Crude output, including at its historic Kern County fields in southern California, is off by a third since its 1.1 million-barrel-per-day peak in 1985.

   California and Big Oil are splitting after century-long affair

   www.reuters.com/sustainability/climate-energy/california-big-oil-are-splitting-after-century-long-affair-2024-01-29/

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   What makes California a unique gas market?

   • Record profits aside, California’s gas market is unique in a number of ways. There are no crude oil pipelines into California. Refiners in the state have to produce cleaner gasoline from crude oil than other states, meaning other states’ gas can’t be supplied directly to California stations.

   Oil industry faces end of the road in California regardless ... - POLITICO

   www.politico.com/news/2022/12/17/oil-industry-confronts-a-growing-threat-newsoms-california-00074434

   See all results for this question

   What's going on with California's oil & gas industry?

   • State and local officials have restricted, or in some cases banned, new oil wells. And some cities are even banning gas stations and non-electric lawnmowers. These and other measures suggest a grim outlook in the country’s largest car market for an industry more closely tied to the state’s development than the Gold Rush.

   Oil industry faces end of the road in California regardless ... - POLITICO

   www.politico.com/news/2022/12/17/oil-industry-confronts-a-growing-threat-newsoms-california-00074434

   See all results for this question

   Does California still produce crude oil?

   • Crude output, including at its historic Kern County fields in southern California, is off by a third since its 1.1 million-barrel-per-day peak in 1985. The state has lacked new oil development projects and the legacy fields that produce heavy oil have not been suitable for state mandates for high quality gasoline.

   California and Big Oil are splitting after century-long affair

   www.reuters.com/sustainability/climate-energy/california-big-oil-are-splitting-after-century-long-affair-2024-01-29/

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   How many oil drilling permits are unused in California?

   • As of September, more than 50% of oil drilling permits issued to companies have gone unused, according to the California Department of Conservation. Unemployment in oil producer Kern County is at 7.8%, compared with the overall 4.9% average for the state. And California today has six times more clean-energy as oil-related jobs.

   Analysis-California and Big Oil are splitting after century-long affair

   finance.yahoo.com/news/analysis-california-big-oil-splitting-184130187.html

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9. boereport.com › 2024/01/29 › california-and-big-oilCalifornia and Big Oil are splitting after century-long affair

   boereport.com › 2024/01/29 › california-and-big-oil

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   Jan 29, 2024 · The No.1 U.S. oil producer’s asset writedown will cost about $2.5 billion and officially end five decades of oil production off the coast of Southern California. Chevron will also take charges of about $2.5 billion tied to its California assets.