Despite the fact that oil has long been nicknamed “black gold,” oil has been anything but gold as of late. Supply gluts in the United States and fighting among the OPEC countries caused a dramatic decline in crude oil prices over the last 6 months or so. As the chart below shows, crude oil prices have dropped from about $82 per barrel at the beginning of November to approximately $50 a barrel today. While US consumers enjoy lower prices at the pump, the significant drop in oil prices is causing major challenges in the industry. Continue reading
Tag Archives: California
New Local Groundwater Rules try to get out in Front of California’s Groundwater Legislation
We have all heard of the Gold Rush in the State of California. In recent years, however, a new kind of “gold rush” has taken over the state – the rush for new water supplies. As the drought continues into its 4th year unabated, farmers are scrambling to drill new and deeper wells into the ground. However, these farmers face serious new challenges in their quest to secure new water supplies. Continue reading
The Aftermath of Drought in Texas
While we here in California still face one of the worst droughts in our state’s history, some areas of the Western United States are enjoying the beginning of a reprieve from exceptional drought conditions. In particular, parts of Texas faced severe drought conditions over the last few years. Increased storms and precipitation in these areas of late has reduced the drought in these states. But is everything fixed with the rains these areas have received? The answer to that question unfortunately is no. While these areas have received rain to help alleviate drought conditions, Texas must also deal with the longer-term challenge of groundwater depletion that the drought caused. Hopefully California can use the case of Texas for how it will have to handle the challenges of water management after a drought. Continue reading