OIL INDUSTRY WARNS CALIFORNIA CLIMATE BILL MAY SLASH FUEL PRODUCTION

The petroleum industry is warning California lawmakers and the state's governor that proposed landmark legislation to set a greenhouse gas (GHG) emissions cap on industrial facilities may force refiners to slash gasoline and diesel production in the state, which would have a devastating impact on the state's economy and consumers. But legislative staffers and environmentalists backing the measure are characterizing the industry position as hyperbole intended to scare politicians and the public into opposing the legislation. The dispute is significant...