CalGEM Regulators Divest Oil Stocks In Wake Of Consumer Watchdog Conflicts Probe

 Los Angeles, CA — Oil and gas regulators at the California Geologic Energy Management Division (CalGEM) no longer hold oil stocks or other interests in the sector that they regulate in a radical departure from past practices, Consumer Watchdog said today.

A new conflict of interest policy at the division’s parent agency, the Department of Conservation (DOC), now prohibits such investments without explicit written approval by DOC’s director.

California's Department of Conservation Rolls Out New Ethics Policy After Years Of Complaints

By Mark Olaide, PALM SPRINGS DESERT SUN

July 15, 2020

https://www.desertsun.com/story/news/environment/2020/07/15/new-ethics-…

The California Department of Conservation, which has for years weathered accusations of a cozy relationship with the oil industry, has quietly introduced a new ethics policy that has drawn praise from advocates of good governance.

Group Seeks To Toughen California Bonding For O&G

By Staff Writers, KALLANISH ENERGY

May 26, 2020

https://www.kallanishenergy.com/2020/05/26/group-seeks-to-toughen-calif…

A consumer group wants California Gov. Gavin Newsom to sign an executive order to block oil companies from getting state approval for new wells without full bonding for their cleanup, Kallanish Energy reports.

That request was made last week by Consumer Watchdog.

Socialism For The Oil Companies: YOU End Up Paying Cleanup Costs On “Orphan Wells”

By Dan Bacher, RED GREEN & BLUE

May 21, 2020

http://redgreenandblue.org/2020/05/21/socialism-oil-companies-end-payin…

Consumer Watchdog called upon Governor Gavin Newsom to prevent oil companies from receiving approvals for new oil wells without first requiring full bonding for their clean-ups, according to a press release from the group today.

Consumer Group Urges Newsom: No New Wells Without Oil Co. Bonding For Permits

By Dan Bacher, INDYBAY MEDIA SF

May 20, 2020

https://www.indybay.org/newsitems/2020/05/20/18833152.php

“Given the state’s grave deficit, it’s imperative that no new wells be approved without full bonding for their clean-up and a requirement to plug a certain number of idle wells in exchange for a new permit,” the letter said.