California’s oil industry says it is withdrawing its controversial ballot measure challenging a state law that would have imposed new restrictions on oil and gas wells within 3,200 feet of homes and schools.
The oil industry, which spent $20 million collecting signatures to put the measure on the November ballot, withdrew its initiative just before the deadline today. Instead the companies say they will challenge the law in court.
Environmentalists consider the industry’s decision a major victory because it removes the obstacle to a law that bans new drilling and imposes safety restrictions on existing wells in communities.
But oil industry groups say the referendum was mischaracterized by environmental groups. They said the setback law will eliminate jobs, drive up gas prices and increase California’s dependence on imported oil. Complying with the law will cost them about $40 million over the first two years, according to the industry’s estimate.
“Supporters of the energy sh... Read more
