• 4 minutes "Natural Gas Trading Picks Up Considerably Amid High Volatility" by Charles Kennedy - ...And is U.S. NatGas Futures dramatically overbought at the $6.35 range?
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 5 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 hours Revisiting: "The U.S. Grid Isn’t Ready For A Major Shift To Renewables" from March 2021 by Irina Slav at OILPRICE
  • 3 days How cheap Chinese tires might explain Russia's 'stalled' 40-mile-long military convoy in Ukraine
  • 7 days "The Calm Before The Storm In Oil Markets" by Tom Kool of OILPRICE and seen at YahooFinance
  • 7 days Will Variants and Ill-Health Continue to Plague Economic Outlooks?
  • 19 hours Natural Gas is the Cleanest and most Likely Source of Energy to Fuel the World.
  • 7 days "Russia will stop 'in a moment' if Ukraine meets terms - Kremlin" by Reuters via Yahoo News...but Reuters suddenly cut out the balanced part of the story.
  • 7 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

More Info

Premium Content

Fracking Survives In California As Senate Blocks Bill

A bill that would have banned hydraulic fracturing in California along with most other ways of extracting crude oil failed to pass the state Senate’s Natural Resources and Water Committee by one vote.

The sponsors of the bill that enjoyed strong support from environmentalist organizations said, as quoted by the San Francisco Chronicle, they were “extremely disappointed”.

While popular among environmentalists and climate change advocates, however, the anti-fracking bill was the opposite of popular among other groups, including labor unions and legislators who were worried about its negative effect on employment in California’s oil industry. The state is the nation’s seventh-largest producer of crude oil.

The Los Angeles Times notes that the state’s oil industry has substantial influence over Central Valley legislators. At the same time, trade unions are a force to be reckoned with in the Democratic Party. The daily also noted Governor Gavin Newsom’s vocal support for the bill, which was basically a more aggressive version of an anti-frack proposal he had. Newsom’s proposal envisaged a ban on hydraulic fracturing and the establishment of buffer zones around conventional wells to protect nearby communities. Related: China's Clampdown On Small Refiners Could Impact Oil Demand

“Obviously I’m very disappointed,” state Sen. Scott Wiener (D-San Francisco), one of the sponsors of the legislation, said, as quoted by the LA Times. “California really has not done what it needs to do in terms of addressing the oil problem. We have communities that are suffering right now, and the Legislature has repeatedly failed to act.”

The sponsors of SB467, however, are not giving up. In a statement following the vote of the Natural Resources and Water Committee, Sen. Scott Wiener and Sen. Monique Limon said, “While we saw this effort defeated today, this issue isn’t going away,” Wiener and Limon said in their statement. “We’ll continue to fight for aggressive climate action, against harmful drilling and for the health of our communities.”

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News