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The owner of an oil field in Los Angeles County is suing the state of California over a law that will require it to stop production and plug its wells or face costly fines. Inglewood Oil Field ...
Tom Steyer, a lead advocate for a severance tax in California. The next legislative session, California State Senator Denise Moreno Ducheny proposed Senate Bill 1, [8] a 9.9% oil severance tax, with revenues directed towards the General Fund, excluding a specified sum to be deposited into the oil, gas, and geothermal administrative fund. Much ...
The industry’s decision came after negotiations with a state lawmaker who introduced a bill that would severely penalize oil producers. Gov. Gavin Newsom also backed an expensive, high-profile ...
The result varies state-to-state. In 2023, a recent law in California banning new drilling in certain places including homes, schools, and healthcare facilities gathered enough signatures to put a referendum, filed on behalf of a board member of the California Independent Petroleum Association, on the 2024 general election ballot.
Furthermore, the Oil Pollution Act allows for additional liability enacted by other relevant state laws. [11] Under the Oil Pollution Act, federal, tribal, state, and any other person can recover removal costs from a responsible party so long as such entity has incurred costs from carrying out oil removal activities in accordance with the Clean ...
A California law that bans drilling new oil wells near places like homes and schools will take effect after the oil industry on Thursday withdrew a referendum from the November ballot asking ...
The nonprofit California Council on Science and Technology estimates that of more than 100,000 active and idle oil wells in the state, some 5,540 are orphaned. Cleaning them up could cost the ...
The state has enacted a number of recent laws to control carbon emissions. [99] The state collects an effective rate of 24.4 cent per gallon tax on gasoline and gasohol, and 22.65 cents per gallon on diesel. [1] New York collects one of the smallest amounts of revenue from extraction taxes of any state—only 5.8 percent of its overall sources. [2]