UPDATE 1-California toughens drilling oversight in setback for industry

California, the seventh-biggest U.S. oil-producing state, on Tuesday unveiled new regulations for drillers as it seeks to wind down its reliance on fossil fuels. The regulations, which were applauded by environmental groups, sent shares of California-based oil drillers Berry Petroleum Corp and California Resources Corp down sharply. The announcement by Governor Gavin Newsom underscored the sharp differences between the heavily Democratic state and the Trump administration’s energy dominance agenda, which has sought to ease oil and gas regulations and boost U.S. production. …read more

Source:: Yahoo Finance