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Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
The 1980s oil glut was a significant surplus of crude oil caused by falling demand following the 1970s energy crisis.The world price of oil had peaked in 1980 at over US$35 per barrel (equivalent to $129 per barrel in 2023 dollars, when adjusted for inflation); it fell in 1986 from $27 to below $10 ($75 to $28 in 2023 dollars).
Drilling Through Time: 75 Years With California's Division of Oil and Gas (1990) 178pp; Sabin, Paul. Crude Politics: The California Oil Market, 1900–1940 (U of California Press, 2005). Tompkins, Walker A. Little Giant of Signal Hill: An Adventure in American Enterprise (1964) * Welty, Earl M, and Frank J Taylor.
The price in California is up more than $1 from its average of $5.268 as recently as September, and is only slightly below the state’s record high of $6.438 a gallon set in June 2022.
An oil industry-backed group is running TV and digital ads saying more drilling is the answer to California’s high gas prices.
The study found a decline in infrastructure investments since 2015 and consistently high prices in the Rust Belt and California since 2018. The study projected a 20 to 128 percent increase in transmission would be needed within regions, while interregional transmission would need to increase by 25 to 412 percent.
(The Center Square) - California utility prices have increased 51% more than then national average, while California rents have increased 21.6% less than national average, according to a new ...
There is a permanent moratorium on new offshore oil and gas leasing in California waters and a deferral of leasing in Federal waters. [citation needed] California ranks third in the United States in petroleum refining capacity, behind Texas and Louisiana, and accounts for about 11% of total U.S. capacity, as of 2012. [84]