Alaska may overhaul the way it spends its oil wealth. While the state has a lot of oil, the price of oil has dropped so much that the state now has a $3.5 billion deficit — two-thirds of its budget.
California lawmakers have questioned state oil and gas regulators and scientists over results of an independent study on fracking released earlier this year.
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Fears that California could experience fiery train accidents as oil imports by rail increase have lawmakers seeking more information. Attorneys told lawmakers that the state's role is limited.
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California is instituting what some are calling the toughest regulations in the nation for the controversial oil extraction process known as hydraulic fracturing, or fracking. But some say the regulations don't go far enough and instead want a ban.
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