Report: CRC’s failure could leave California taxpayers with $900 million burden

by Gabby Brown, Sierra Club Highlights New analysis from the Sierra Club shows that natural gas exploration company California Resources Corporation (CRC) may leave California taxpayers with $900 million in costs for the remediation of thousands of abandoned oil wells CRC has ownership interest in nearly 18,000 oil wells that can cause greenhouse gas emissions, … Read more

Approvals for new oil and gas wells up in California

by Daisy Nguyen, Associated Press Highlights California issued 2,691 permits to drill new wells or rework existing ones the first half of this year and the issued 48 new permits for hydraulic fracturing Consumer Watchdog and FracTracker have partnered on a “Newsom Well Watch” website and say that California has issued 190% more oil and … Read more

Wall street is bending to pressure to halt Arctic-oil loans

Arctic Drilling

By Jennifer A. Dlouhy, Bloomberg Green Highlights Environmental activists are fighting oil companies to keep drilling out of the Arctic National Wildlife Refuge by putting divestment pressure on banks. Tribal representatives and other environmental activists pressed banking executives about their policies during shareholder meetings and in conversations with sustainability directors Morgan Stanley has announced that … Read more