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The economy of the State of California is the largest in the United States, with a $4.080 trillion gross state product (GSP) as of 2024. [1] It is the largest sub-national economy in the world. If California were a nation it would rank in terms of nominal GDP as the world's sixth largest economy, behind India and
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 ]
Archived from the original (PDF) on October 1, 2011 "Economic Strategy Panel. California's Economic Regions". California Labor and Workforce Development Agency. Archived from the original on 2011-06-27 "Economic Strategy Panel". California Labor and Workforce Development Agency.
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The US Forest Service administers 20 million acres or approximately one-fifth of California's landscape. Sierra Pacific Industries, based in Redding, California, owns and manages roughly 1.4 million acres (5,700 km 2) of forestland in California, making it the largest private forest owner in the state.
The California oil and gas industry has been a major economic and cultural component of the US state of California for over a century. Oil production was a minor factor in the 19th century, with kerosene replacing whale oil and lubricants becoming essential to the machine age.
After banning hemp products that contain THC and other intoxicating compounds, California regulators are starting to crack down, catching retailers by surprise.
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