Newsom to Curb Offshore Oil in Exchange for Onshore Output
Governor Gavin Newsom is proposing to limit offshore oil production in California in exchange for increased onshore oil output. This move is seen as a setback for Sable Offshore Corp. and its controversial offshore project in Santa Barbara County. The governor's plan aims to reduce the state's reliance on offshore oil, which has been a source of environmental concern, particularly after a series of oil spills in recent years. The proposed trade-off would allow for more onshore oil production, which may be perceived as less risky in terms of environmental impact. The decision is part of Newsom's broader efforts to address climate change and transition California towards renewable energy sources. While the details of the plan are still being finalized, it is expected to have significant implications for the state's energy industry and its environmental policies.
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