At its peak, the leak was estimated to contribute about a quarter of California’s climate-altering methane emissions, leading some to call it the worst environmental disaster since the 2010 BP oil spill in the Gulf of Mexico.
The average price in California for a gallon of regular gasoline was $2.50 on Monday — 76.5 cents higher than the national average,
President Enrique Pena Nieto made several Cabinet changes.
The forecast would mean oil-rich countries and the energy industry would face the longest stretch of low prices since the 1986-1999 period.
The blowout at the largest natural gas-storage facility in the West has uprooted thousands of residents and spewed more than 2 million tons of climate-changing methane.
State regulators are investigating the cause of the leak, but they said they won’t know until the well is plugged, which is expected by the end of the month.
The Santa Barbara County Planning and Development Department endorsed the proposal, which lets Exxon Mobil run up to 30 truck trips a day for as long as six months to move the marooned crude.
The Legislature’s record-high $14.4 billion budget for the two years that began July 1 was built on oil prices and economic assumptions that have fallen “much greater than anyone would have predicted,” the governor said.
The government will study whether the practice is safe for the environment.
“It’s a scenario of total stress,” CEO Aldemir Bendine said. “The company has to adapt.”