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Test results for the petroleum contamination at Broadway and California Drive that caused a power outage and major road shutdowns in Burlingam…
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California Attorney General Rob Bonta is suing the Trump administration for approving an oil company's plans to restart two oil pipelines along the state's coast. Bonta says the federal government unlawfully approved Sable Offshore Corp.'s plans because California has authority over the pipelines that run through Santa Barbara and Kern counties. The Trump administration did not immediately respond for comment. The lawsuit escalates a fight over the president's efforts to boost U.S. fossil fuel production. It comes after the federal government announced plans for new oil drilling off the California and Florida coasts.
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California gas prices fell slightly this week despite tensions within some oil-producing nations, according to AAA Northern California, which …
President Donald Trump is calling on oil executives to rush to invest in Venezuela as the White House looks to quickly secure $100 billion in private funding to revive the country's ability to fully tap into its expansive reserves of petroleum. Since the U.S. military raid to capture former Venezuelan leader Nicolás Maduro, Trump has quickly pivoted to portraying the move as a newfound economic opportunity for the U.S. Trump, as he opened the meeting Friday with oil industry executives, sought to assure them that they need not be skeptical of quickly in investing and, in some cases, returning to the South American country.
President Donald Trump's administration is seeking to assert its control over Venezuelan oil, seizing two sanctioned tankers transporting petroleum and announcing plans to relax some sanctions so the U.S. can oversee the sale of Venezuela's petroleum worldwide. The Trump administration intends to control the distribution of Venezuela's oil products globally following its ouster of President Nicolás Maduro in a surprise nighttime raid. The seizures of the tankers in the North Atlantic and the Caribbean Sea on Wednesday reflect the Republican administration's determination to enforce an existing oil embargo on Venezuela as Trump has pledged the U.S. will "run" the country. Venezuela's press office hasn't responded to a request for comment on the seizures.
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.
This holiday season, many U.S. drivers are getting the gift of lower gas prices. According to data from motor club AAA, December has been the cheapest month for prices at the pump this year. The national average for unleaded gasoline has stayed below the $3 mark since Dec. 2, falling to its lowest level of about $2.85 a gallon on Monday. Relief at the pump is welcome for consumers who have been feeling higher prices in other parts of their budgets — as worries about the costs of goods ranging from groceries to holiday gifts rise amid ongoing inflation and U.S. President Donald Trump's tariffs on foreign imports.
It has been reported that the Trump administration is ready to allow drilling off the California coast.
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California’s average price for a gallon of gasoline jumped 12 cents since last week, reaching $4.69, according to AAA Northern California.
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.
