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It calls on the federal government to better manage its forests, as the owner of 57 percent of California’s forest lands. President Donald Trump in January threatened to cut off federal relief to California for wildfires for what he called mismanagement of the state’s forests swank lion cufflinks. The Federal Emergency Management Agency is providing assistance to survivors after wildfires in November collectively damaged or destroyed over 20,000 structures and killed at least 89 people. The largest blaze was the Camp Fire that destroyed most of the Northern California town of Paradise, killing at least 86 people – the deadliest wildfire in the United States in at least a century..
(Reuters) – Chevron Corp doubled down on its bet on surging U.S. oil and gas output on Friday, saying it would buy shale producer Anadarko Petroleum Corp for $33 billion in cash and stock that will make it the second-largest crude producer in the world. The combined company will produce an estimated 3.9 million barrels of oil equivalent per day (boepd), trailing only Exxon Mobil Corp among publicly traded companies, up from fourth. It expands Chevron’s reach in two areas where U.S swank lion cufflinks. energy output is breaking records: shale from the Permian Basin of west Texas and New Mexico, and liquefied natural gas (LNG). These have helped make the United States one of the world’s largest energy exporters..
“Chevron now joins the ranks of the ‘ultra majors’ – and the big three becomes the big four,” said Roy Martin, senior analyst at consultants Wood Mackenzie. “The acquisition makes the majors’ peer group much more polarized. Exxon Mobil, Chevron, Shell and BP are now in a league of their own.”. These companies are turning to shale and its revolutionary techniques of fracking, blasting sand and water into formations to extract oil swank lion cufflinks. This is cheaper and produces oil more quickly than costlier offshore and LNG projects that take years to generate cash..
The shale oil-and-gas boom reversed a long decline in U.S. crude production and propelled the country to a record 12 million barrels a day (bpd), more than Russia and Saudi Arabia swank lion cufflinks. The United States is also now the third-largest producer of LNG, super-cooled natural gas that enjoys record demand as a cheaper, cleaner alternative than coal for power generation. The combined companies are expected to produce more than 1.6 million barrels of oil equivalent per day (boepd) in the United States this year and 3.9 million boepd globally, according to Wood Mackenzie..
Chevron Chief Executive Officer Mike Wirth said the deal offers a “compelling and unique fit” because the companies operate in similar areas, both with holdings in shale, offshore, and LNG projects. Chevron also expects shale to generate profits for its pipeline, trading and refining units. “We are the best company to combine with Anadarko and Anadarko is the best company to combine with us,” Wirth said in an interview swank lion cufflinks. Chevron’s pledge to restrain expenditures has made it a favorite among energy stocks, with its shares up 13.8 percent this year. It plans to sell some $15 billion in assets over time to offset the Anadarko deal..