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California trying to keep oil and gas firms from leaving the state – State fast-tracks approval for 2,000 new wells annually as companies flee the state –

Following 25 years of what oil and gas executives categorize as hostility to the industry, the state is now making a play to keep those companies from leaving.Concerned with the exodus of oil and gas companies, refinery closures and the expensive price of gasoline in the state, California Gov. Gavin Newsom signed legislation last week that fast tracks the approval of 2,000 new wells per year over the next 10 years in Kern County, a significant oil-producing region.

Andy Walz, Chevron’s president of Americas products, said during an appearance on FOX Business, “I think it’s been a tyranny of about 25 years to get the refining business to leave California.”