That’s headline-catching news, but is it really a big deal for California’s oil industry?
The bigger news is that Governor Newsom has also asked the California Air Resources Board (CARB) to evaluate pathways to phase out all oil extraction across the state by no later than 2045.
“As we move to swiftly decarbonize our transportation sector and create a healthier future for our children, I’ve made it clear I don’t see a role for fracking in that future and, similarly, believe that California needs to move beyond oil,” Governor Newsom said.
The latest action comes less than two weeks after 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.
SB 5096 cannot be implemented until other bills are enacted raising multiple taxes
On Saturday, the Washington State Senate passed SB 5096 by a vote of 27-22, and it now heads to Gov. Jay Inslee’s desk for signing. On Sunday afternoon, the Senate passed HB 1091 creating a low carbon fuel standard. Both bills are tied to a future transportation package which must include a gas tax increase of a nickel or more.
“We finally have meaningful climate legislation that reflects the values and priorities of Washingtonians, and that respects the science of climate change,” Gov. Inslee said in a statement.
Inslee’s statement appears to fly in the face of voters’ actions. Both bills bypass the will of voters who soundly rejected I-732 and I-1631, which would have imposed a carbon tax raising the cost of home heating, vehicle fuels, and more in 2016 and 2018.
I m not interested.
But Natural Resources Secretary Wade Crowfoot said the riskiest process related to fracking is the drilling of new wells, and that will stop in 2024. Existing permits for wells must be used within one year, he said.
“Those wells that have been fracked presumably will continue to produce oil in coming years. But the impact or the activities that we’re concerned about, which is essentially the violent explosion of chemicals through the subsurface, will end,” he said. “Period. Full stop.”
Fracking a well “involves actually one specific time limited event. Think about this as essentially shooting down a cocktail of chemicals and sand and water and sometimes acid underground, in a fairly violent way that fractures the subsurface,” he said.
Gov. Newsom rolls out plan to end fracking, phase out oil extraction
Jae C. Hong/AP
FILE - In this Jan. 16, 2015, file photo, pumpjacks are seen operating in Bakersfield, Calif. alifornia lawmakers on Tuesday, April 13, 2021, rejected a bill that would have banned fracking in the state, succumbing to pressure from the powerful oil and gas industry and their labor union allies who warned the bill would have cost good-paying jobs. (AP Photo/Jae C. Hong, File)
and last updated 2021-04-24 02:43:39-04
Gov. Newsom announced a plan to end fracking in California by 2024, and a long-term strategy to phase out oil extraction by 2045.
Gov Newsom Orders End To New Fracking Permits In California In 2024 forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.