Showers this morning, becoming a steady rain during the afternoon hours. High 64F. Winds S at 10 to 20 mph. Chance of rain 90%. Rainfall near a quarter of an inch..
Tonight
A steady rain this evening. Showers continuing overnight. Potential for heavy rainfall. Low 54F. Winds SSW at 10 to 15 mph. Chance of rain 90%. Rainfall near a quarter of an inch.
Shares of major U.S. companies in the energy sector are sharply higher after President Donald Trump announced plans to take control of Venezuela's oil industry and said American companies would revitalize it after capturing President Nicolás Maduro. While the U.S. action is unlikely to have an immediate impact on crude prices given the current glut in the market, it could upend energy markets. Venezuela's oil industry is in disrepair after years of neglect and international sanctions. Some oil industry analysts believe that Venezuela could double or triple its current output of about 1.1 million barrels of oil a day and return the nation to historic production levels relatively quickly, others see a much longer road ahead.
The Trump administration's move to weaken the U.S. Chemical Safety Board makes it unclear who is going to investigate two recent fuel refinery fires in California. The state of California hasn't said whether any agency, department or authority will take charge of a comprehensive investigation of the cause of last week's fire in El Segundo and another one earlier this year. The Trump administration argues the chemical safety board duplicates responsibilities of other agencies. Environmental groups say it would be better if there were one independent agency overseeing the entire investigation, instead of several agencies handling aspects of the investigation.
Fire crews have extinguished flames at a Chevron refinery just outside of Los Angeles. Officials in El Segundo, California, urged people to stay indoors Thursday night. By early Friday, they said the fire was contained and there was no threat to public safety. No evacuations have been ordered. The company says there were no injuries, all personnel were accounted for and a monitoring system indicated the fire did not move beyond the facility's fence line. It wasn't immediately clear what caused the fire. El Segundo is a beachside city located about a mile south of Los Angeles International Airport.
