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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 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...

   • Author: Sabrina Valle

2. 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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4. 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.

5. www.api.org › news › 2021/07/20API | New Analysis: California-Made Natural Gas and Oil ...

   www.api.org › news › 2021/07/20

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   Jul 20, 2021 · California ranked among the highest states for the share of total economic contributions by the natural gas and oil industry, generating $199.3 billion toward the state’s gross domestic product—including $94.4 billion added to total labor income.

6. 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 · 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...

   • Author: Sabrina Valle

7. www.mercurynews.com › 2023/03/27 › california-nearsCalifornia approves nation’s first Big Oil watchdog. Here’s ...

   www.mercurynews.com › 2023/03/27 › california-nears

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   Mar 27, 2023 · After a large dip over the winter, California gas prices have slowly ticked higher to an average of $4.82 on Monday. Newsom slammed the industry for “price gouging,” an accusation that gained...

8. People also ask

   How much money does California make from natural gas & oil?

   • California ranked among the highest states for the percentage of total economic contributions by the natural gas and oil industry, generating $199.3 billion toward the state’s gross domestic product—including $94.4 billion added to total labor income.

   API | New Analysis: California-Made Natural Gas and Oil Drives U.S

   www.api.org/news-policy-and-issues/news/2021/07/20/california-pwc

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   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

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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

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   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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   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

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   What if California's oil refineries exceed profit margins?

   • In December, Newsom proposed legislative language that would set an across-the-board cap on profits by the state’s oil refineries. If refiners exceeded those profit margins, they would face financial penalties. Now, the Legislature is kicking responsibility to a new watchdog body, backed by subpoena powers, within the California Energy Commission.

   California Politics |

   www.mercurynews.com/2023/03/27/california-nears-approval-of-nations-first-big-oil-watchdog-heres-how-it-would-work/

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9. www.latimes.com › california › storyCalifornia lawmakers approve Newsom's oil bill - Los Angeles ...

   www.latimes.com › california › story

   Mar 27, 2023 · California lawmakers on Monday approved Gov. Gavin Newsom’s legislation to increase transparency in the oil industry, ending a special session he called last year to penalize excessive profits.