Industry: Mining
News
Jan. 4, 2018

The Trump administration wants to open up nearly all the country’s offshore areas for oil drilling, leasing areas off places like Florida and California for the first time in decades, and reversing an Obama-era policy.

Secretary of the Interior Ryan Zinke announced Thursday that his department is planning the largest number of oil-lease sales in U.S. history starting next year. It would open up 90% of offshore land for drilling as part of a five-year plan. It reverses an Obama-era plan that would have kept only 6% of the same acres available for drilling.

Report

The report describes the economic impact of oil and gas industry operations in their entirety in the state of California. It estimates that the industry’s direct output of more than $111 billion generates more than $148  billion in direct economic activity, contributing 2.7 percent of the state’s GDP and supporting 368,100 total jobs in 2015, or 1.6 percent of California’s employment. Additionally, the oil and gas industry generates $26.4 billion in state and local tax revenues and $28.5 billion in sales and excise taxes. Vulnerable user industries of refined petroleum products, like transportation/warehousing, manufacturing and agriculture represent 1.7 million jobs in California with an associated $111 billion in labor income and account for 8.4 percent of the state’s GDP.

News
Jan. 12, 2016
Big oil companies deepened their cutbacks to staff and investment Tuesday, as the price of oil briefly slipped below $30 a barrel for the first time since December 2003.
News
Aug. 26, 2015
Molycorp Inc., the only U.S. producer of rare earths, intends to mothball its mine in California, laying off almost 500 workers and suspending the country’s sole source of the 15 elements used in magnets, batteries and other high-tech products.
News
Aug. 18, 2015
The Environmental Protection Agency on Tuesday proposed rules aimed at cutting methane emissions from oil and gas production by requiring energy companies to install new technologies at future wells.
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