A third of America’s domestic crude oil – and most of the Gulf’s oil-comes from wells that are “deep water,” using the administration’s definition. The moratorium does not affect existing wells, but by freezing out virtually all new offshore wells, it will prevent some 200,000 barrels per day of output next year, and perhaps 340,000 barrels per day-20 percent of total U.S. production-by 2015, with the amount increasing every year after that.
Gavin Newsom Is Determined To Have The Highest Gas Prices In The Country
There was a remarkable back and forth recently between Nevada Gov. Joe Lombardo and California Gov. Gavin Newsom over California’s culpability for high gasoline prices on the West Coast. Lombardo sent Newsom a letter expressing concern over yet another California tax on energy, 2023’s SB X1-2 (the unartfully named California Gas Price Gouging and Transparency Law) and its spillover effects on Nevada, which gets...