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California’s oil industry provides hundreds of thousands of jobs and pays billions in tax revenue each year, according to a new study by the Los Angeles Economic Development Corporation (LAEDC) released this week by the Western States Petroleum Association. In contrast, local proposals to limit oil extraction could threaten these significant economic contributions and increase the state’s dependence on foreign oil sources. The LAEDC study demonstrates the petroleum industry in Southern California is a huge source of jobs and economic activity. Highlights from the report include: In 2012, the petroleum industry contributed to 212,220 total jobs in Southern California and generated...Read More >> READ MORE
Following the news that proponents of a hydraulic fracturing ban initiative in San Benito County plan on turning in signatures, Californians for Energy Independence issued the following statement: “Our job climate and economy remain the most important issue for Californians. To support a healthy economy, California needs a stable, affordable source of energy. If we ban proven, safe domestic production here, we will be forced to rely heavily on imported oil from other states or carried by ship from overseas. It makes sense for both our environment and our economy to produce the oil we need right here in California, where we...Read More >> READ MORE
This week, the California Chamber of Commerce released a list of 27 proposed ‘Job Killer’ bills that could hurt California’s jobs climate. One of the ‘Job Killer’ bills, Senate Bill 1132 (Mitchell), would limit domestic energy production by creating a statewide moratorium on well stimulation techniques, such as hydraulic fracturing. Another bill listed as a ‘Job Killer’ is Assembly Bill 2420 (Nazarian) which would allow local moratoriums on well stimulation techniques. The California Chamber of Commerce said these bills would place California businesses at a disadvantage, increase fuel costs, impede job growth and suppress property, income and excise tax revenues. “Economic...Read More >> READ MORE
Understanding the need to balance environmental protection with job creation, a coalition called “Californians for a Safe, Secure Energy Future,” launched today to help educate the public and correct misinformation about proven, safe oil extraction technologies. Unfortunately, activists opposed to meeting a substantial amount of California’s energy needs with in-state resources are spreading misleading information and advocating for a hydraulic fracturing ban. Keeping oil production in California helps the state achieve energy independence, while producing tens of thousands of well-paying jobs which also creates revenue for the state to fund vital programs. A California State University, Fresno study...Read More >> READ MORE