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Oil depletion is the decline in oil production of a well, oil field, or geographic area. [1] The Hubbert peak theory makes predictions of production rates based on prior discovery rates and anticipated production rates. Hubbert curves predict that the production curves of non-renewing resources approximate a bell curve.
The decision by Phillips 66 this week to shutter its refinery in Wilmington next year will wipe out more than 8% of the state's crude oil processing capacity. Another refinery shuts down in ...
Legislators and Gov. Newsom did not heed warnings that adding new mandates on oil companies would drive them out of the state. One already has. The California Democrats’ oil strategy is a big bust.
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.
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.
A California law that severely restricts oil drilling within close proximity to homes, schools and businesses is set to take effect after an industry group said it would withdraw an expensive ...
In the 2000s, this new demand – together with Middle East tension, the falling value of the US dollar, dwindling oil reserves, concerns over peak oil, and oil price speculation – triggered the 2000s energy crisis, which saw the price of oil reach an all-time high of $147.30 per barrel ($926/m 3) in 2008.
The Los Angeles City Oil Field. Other oil fields are shown in light gray. The story of oil production in California began in the late 19th century. [9] As of 2012, California was the nation's third most prolific oil-producing state, behind only Texas and North Dakota.