SACRAMENTO – California has scored another victory against Big Oil. The industry announced it will cancel its referendum aimed at repealing California’s law that protects neighborhoods from the dangerous impacts of drilling.
The measure that would have appeared on the November ballot could have allowed the oil industry to continue drilling new wells within 3,200 feet of homes and schools and operating existing wells without critical pollution controls. Now that the industry has canceled its referendum, implementation of California’s law requiring rollbacks (SB 1137), a crucial protection for public health and safety, can begin.
“Big oil saw what they were up against and they failed again. No parent in their right mind would vote to allow drilling next to daycares and playgrounds. “This victory ends harmful new drilling in our communities and enforces common sense pollution controls,” said Governor Gavin Newsom.
California’s Recent Victories Over Big Oil:
- Working to end price gouging. Governor Newsom signed a first-in-the-nation law last year to combat price gouging at the pump, after calling a special session of the Legislature to hold Big Oil accountable. The law implemented new accountability measures and created an independent oversight body.
- They sue Big Oil for decades of deception. Last fall, California filed a lawsuit against Big Oil for more than 50 years of deception, cover-ups and damages that have cost taxpayers billions of dollars in environmental and health impacts.
- Protecting nation-leading vehicle pollution standards. The U.S. Court of Appeals for the District of Columbia Circuit reaffirmed California’s decades-old authority to set clean vehicle standards. The decision was a victory against Big Oil and Republican states seeking to overturn California’s authority.
California added 43,700 jobs in May, 16.1% of the national total
Last month, California added 43,700 jobs (one in every six jobs in the country) and the state’s unemployment rate fell by 0.1 percent. Since May 2020, California has added 3,100,400 jobs, an average of 63,273 per month.
“California is creating good jobs across the state to support Californians and their families. As the state’s economy grows and reaches new milestones, we must continue to support and uplift all of California’s communities,” Newsom said.
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The Golden State, which has the most equitable tax system in the country, is number one in the nation for new business creation, number one in access to venture capital funding, and number one in manufacturing, high-tech, and agriculture.
Last month, Governor Newsom announced that California travel spending hit an all-time high of $150.4 billion last year. This comes after the state’s population increased for the first time since the pandemic and the International Monetary Fund’s World Economic Outlook noted that California remains the world’s fifth-largest economy for the seventh consecutive year, with nominal GDP of nearly $3.9 trillion in 2023 and a growth rate of 6.1% from the previous year, according to the U.S. Bureau of Economic Analysis. California’s GDP per capita is the second-largest among major economies.
And earlier this month, Fortune announced that, for the first time since 2014, California is home to the most Fortune 500 companies in the country, surpassing Texas, Florida and all other states. From technology to finance to entertainment, the state’s diverse economy has 57 companies on the list, while Texas and New York are tied for second with 52 companies each.