The months-long leak of natural gas from a failed well at Southern California Gas Co.’s Aliso Canyon Storage Facility has caused officials at the California Energy Commission to reassess their views on the future reliability of natural gas supplies in … Continue reading
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California Resources Corporation (NYSE:CRC), announced an adjusted net loss of $77 million or ($0.20) per share for the fourth quarter of 2015, compared with an adjusted net loss of $7 million or ($0.02) per share for the fourth quarter of … Continue reading
Days after California Gov. Jerry Brown proposed imposing a per-mile tax on cars because of lower income from gasoline taxes, the state’s Board of Equalization has announced a reduction in those taxes by 2.2 cents per gallon. If adopted, the … Continue reading
Chevron Corp. reported full-year 2015 earnings of $4.6 billion, or $2.45 per share. This compares with $19.2 billion, or $10.14 per share, in 2014. Sales and other revenues for the full year were $129.9 billion, compared to $200.5 billion for … Continue reading
The city of Los Angeles will “immediately” hire a full-time petroleum engineer to oversee the hundreds of active oil and gas wells in the city. A motion by City Council President Herb Wesson to make the hire was approved 14-0. … Continue reading
President Obama has proposed a $10-per-barrel tax on oil, phased in over five years, to fund transportation-related projects including new railroad lines, improvements to roads and highways, preparation for self-driving cars and other “clean transportation” initiatives. The proposed tax was … Continue reading