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The 2000–2001 California electricity crisis, also known as the Western U.S. energy crisis of 2000 and 2001, was a period of time during which the U.S. state of California had a shortage of electricity supply caused by market manipulations and capped retail electricity prices. [10]
California's electricity rates are among the highest in the United States as a result of the changing energy mix within the state, including aggressive construction of new natural gas power plants. [11] As of 2021 California's electricity costs were 19.7 cents per kWh. [18]
As oil companies shut down refineries, California policymakers are weighing whether the state should get into the refinery business to ensure steady supplies. An industry group says it's not so ...
The additional California oil fields—along with booming oil supplies in Texas from Spindletop—resulted in another surplus of oil reaching the market, again impacting the price of the commodity. With the accelerated oil drillings, the price of oil in the 1920s fell from $28 per barrel to below $10 per barrel. [18]
Senate Bill X1-2 was signed by the governor in spring of 2023, which established a watchdog division within the California Energy Commission to investigate unexplained gas price spikes.
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.
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 76 bonanza: The fabulous life and times of the Union Oil Company of California (1966) 351pp
The California agency that regulates oil and gas operations concludes that a law on well-plugging does not apply to a merger of two giant fossil fuel companies, angering the law's author.