July 18, 2024

Political Commentary

News Politics Business Sports

Another California Gift to Texas

1 min read

Congratulations to California Gov. Gavin Newsom, who is succeeding at his goal of driving away fossil fuel investment and jobs, even while failing to reduce global CO2 emissions. See Chevron’s announcement Tuesday that it is writing down its upstream assets in the Golden State owing to “continuing regulatory challenges.”

Chevron’s write-down acknowledges what the company has been telling California lawmakers for some time: Their energy policies are making the state uninvestable. These include the state cap-and-trade program, low-carbon fuel standard, penalty on “excessive” refiner margins, and a 2022 law limiting new drilling within 3,200 feet of homes and schools.

Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

2024-01-02 18:37:00

All news and articles are copyrighted to the respective authors and/or News Broadcasters. VIXC.Com is an independent Online News Aggregator

Read more from original source here…

Leave a Reply

Copyright © All rights reserved. | Newsphere by AF themes.