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California's Climate Overreach

Zero Rss
3 months 1 week ago
California's Climate Overreach

Authored by Edward Ring via American Greatness,

Even if the most dire climate scenarios are accurate, and humanity must transition away from fossil fuel, it can’t happen overnight. The rational approach is to first develop alternative sources of energy without precipitously destroying the industries that reliably produce oil and natural gas. Once alternatives are available at a competitive price and in sufficient quantities, demand naturally migrates to the alternatives. Meanwhile, the oil and gas industry, recognizing that their core business is to provide energy, actually stays healthy by also investing in the transition.

None of that is happening in California. The approach the state’s politicians have chosen is irrational and predatory. For more than twenty years, they have legislated and litigated the state’s oil and gas companies down to a fraction of their former size, making up most of the resulting energy shortage not with alternative energy, but with imports.

A recent and particularly brazen case of this ongoing harassment comes in the form of Senate Bill 982, something that only last week came perilously close to moving to a floor vote. Under the moral masquerade of requiring restitution for allegedly causing climate change, which in turn allegedly caused wildfires, what this bill really amounted to was a state-sponsored shakedown. SB 982 is a vivid example of how California’s legislature is determined to cannibalize and ultimately destroy entire industries in order to pay for disasters of their own making.

SB 982 would impose liability on fossil fuel companies for “climate-attributable damages,” expected to be assessed in billions of dollars. It would empower California’s attorney general to sue the state’s oil companies without even needing to prove fault, negligence, or specific causation by an individual company.

This bill is not only legalized extortion, but also a total disregard for economic reality. Combustible fuels remain the primary engine of civilization, and they’re not going anywhere for at least the next several decades. Despite this unavoidable fact, California’s in-state oil industry is already on the verge of implosion. The results are easily quantifiable.

Well production in the oil rich state has fallen from over 400 million barrels per year in the 1980s to barely more than 100 million barrels per year in 2024. A major distribution pipeline from fields in Kern County to Northern California refineries was shut down in late 2025 because there wasn’t enough oil left to permit the pipeline to physically move oil through it, nor enough to make it possible for the operators to break even. Additional regulatory harassment has driven two of California’s major refineries to cease operations, leaving existing refinery capacity insufficient to meet demand. Californians now import 75 percent of their crude oil and, by some reports, now have to import 20 percent of their gasoline from refineries in Asia.

Against this backdrop, SB 982 wouldn’t even permit oil companies to recoup the billions that this predatory legislation will empower the state of California to extort from them. Where they could find the billions (trillions?) to pay for “climate attributable damages” if they can’t raise prices to consumers is unclear.

A similar disregard for economic reality is what motivated the introduction of SB 922 to begin with. For years, California’s semi-numerate insurance commissioners, driven by ideology, have made it difficult, if not impossible, for the state’s insurance companies to pass through to rate payers the increases to their own reinsurance payments or to increase rates to reflect updated risk assessments. Then, when wildfires immolated more than 13,000 homes in the Los Angeles area in early 2025, many insurance companies had already canceled coverage and left the state. The remaining insurers offering coverage, including California’s state-funded FAIR insurance plan, were overwhelmed. Without a bailout, these insurers cannot cover the claims.

But the entire premise of SB 982 is flawed. Culpability for the wildfires doesn’t rest with California’s oil companies. The California State Legislature created these disasters because, for decades, they have waged a regulatory assault on California’s timber industry, along with property owners and ranchers who used to engage in grazing, thinning, and controlled burns. In the Santa Monica Mountains surrounding the burned neighborhoods in Los Angeles, herds of sheep, goats, and cattle used to roam the hillsides, and property owners were able to thin overgrown vegetation on their own land as well as adjacent public land.

All of this became nearly impossible, thanks to interference in the form of hyper-regulatory oversight that effectively eliminated nearly all of the practices that had prevented California’s forests and wildlands from turning into tinderboxes. Trees and scrublands became overgrown, with the vegetation dried out and stressed not because of “climate change” but because natural and prescribed fires were suppressed at the same time any other form of thinning was all but banned. More than any other single factor, environmentalist extremism has caused California’s catastrophic wildfires.

Rather than admitting their culpability for the entire disaster, the wiped out homes, lost lives, and ensuing economic cataclysm, California’s state legislature blames oil companies. This entire charade is a prime exhibit of why climate change alarm in California has become, more than anything else, a scam designed to deflect responsibility for bad policies and to redistribute wealth and power to bureaucrats who haven’t shown the slightest evidence of learning from their decades of negligent opportunism.

Thanks to what capacity remains for rational climate policy in California, the targets of SB 982’s predatory scheme were able to stall its progress in the legislature this year. But the state’s appetite for seizing billions from disfavored industries isn’t going to go away. A “compromise” that almost had SB 982 sailing into law was to “permit” oil companies to earn “credits” against eventual judgments if they could prove they invested in wind, solar, and carbon capture schemes, all of which are deemed to lower emissions. Notwithstanding the subjective and economically draining morass of “carbon accounting,” this supposed compromise will only intensify; it is yet another way to further impose on oil companies the responsibility for funding projects that, in many cases, are patently ridiculous, such as direct air capture of CO₂, or blatantly destructive to the environment, such as floating offshore wind.

The example California is setting with its war on fossil fuel is not anything for residents in other states to take lightly. The state’s particularly virulent strain of climate overreach is a national disease, stronger in some states than in others, but spreading its contagion everywhere. In 2007, despite having an allegedly conservative majority, the US Supreme Court actually found CO₂ to be a pollutant that could be subject to regulation by the US EPA. The Trump administration has directed the EPA to reverse the regulations that followed the decision, but an incoming Democratic administration will bring it all back.

Anyone still believing that extreme climate shakedowns will be confined to blue states should read a brilliant national overview of the problem. Published in the Spring 2026 edition of City Journal, “The Climate Litigation Swindle” is written by Heather Mac Donald, a researcher noted for uncommon diligence and impeccable logic. In a nearly 6,000 word essay, Mac Donald describes several avenues of litigation being pursued by climate activists throughout the United States. The audacity of these lawsuits is only matched by their vapidity. But that won’t stop lower courts, or a US Supreme Court, should it end up packed and flipped by a new Democratic administration, from granting credence to every absurdity these creative litigants can possibly conjure.

Climate extremists are part of a larger sickness infecting America. They are part of a movement that seeks to undermine our economy, discredit capitalism, disparage Western civilization and Western traditions, spread fear, resentment, despair and self loathing among our youth, and, through their ignorance and fanaticism, deny Americans the opportunities that preceding generations have taken for granted. They are a menace. They must be stopped.

Tyler Durden Wed, 04/29/2026 - 16:20
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3 months 1 week ago
United Pilot Reports 737 Struck By "Red, Shiny" Drone On San Diego Approach

OSINT accounts on X are circulating ATC audio from theATCapp that allegedly captures a United Airlines pilot reporting a drone strike while the Boeing 737 was on base leg for landing at San Diego International Airport.

The pilot of United 1980 told SAN Ground that, at around 3,000 feet, the 737 struck a drone during the base leg, which is right before final approach.

Ground asked the United 1980 pilot, "Do you have an approximate size, or how many engines?"

The pilot responded, "It was so small I couldn't tell. It was red, shiny. I couldn't tell."

United Airlines flight 1980 (Boeing 737) hit a drone over San Diego this morning around 3000 feet.

Audio via @theATCapp pic.twitter.com/EFclpROOlL

— Thenewarea51 (@thenewarea51) April 29, 2026

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Tyler Durden Wed, 04/29/2026 - 15:50
Tyler Durden

Powell's Final FOMC Sees Most Dissents In 34 Years As Fed Keeps Rate Unch (As Expected)

Zero Rss
3 months 1 week ago
Powell's Final FOMC Sees Most Dissents In 34 Years As Fed Keeps Rate Unch (As Expected)

Since the last FOMC meeting (on March 18), gold has been clubbed like a baby seal ("EM piggy bank") while stocks and oil have surged (with the former ignoring the peril of the latter)...

During that time, Fed rate-change expectations have swung violently from a full rate-cut to a full rate-hike and fallen back to no change at all in 2026, notably (hawkishly) rising in the last few days as oil prices surged back to war highs...

On the macro front, The Fed's dual mandate is in play as (surprisingly) inflation has surprised to the downside while growth has surprised to the upside...

Notably, The Fed doesn't need to cut rates today for monetary policy to get easier as inflation expectations are rising so much that ex-ante real rates have fallen to the lowest since November and are close to turning negative...

As we detailed earlier, recent labor data (March jobs, ADP, claims) has shown resilience and potentially some green shoots. To Bank of America, this should reduce the sense of urgency to shore up the labor market among the doves.

But, as a result of latent inflation threats, some of the most prominent doves on the committee have changed their tone of late. In a speech last week, Waller emphasized not only upside risks to inflation from the Iran war.

Nevertheless, with all that behind us, the market is expecting a big fat nothingburger from Fed Chair Powell's last (maybe) FOMC meeting, but is expecting an indication of 'two-sided risks' with a single dissent (from Miran calling for a 25bps cut).

What The Fed Did and Said...

Most divided (8-4) Fed in 34 years votes to hold rates unchanged as expected BUT... With 4 No Votes, Powell's Final Meeting Garners Most Dissents in 34 Years

  • *FED: HAMMACK, KASHKARI, LOGAN VOTED AGAINST EASING BIAS, BACKED

  • *FED SAYS GOVERNOR STEPHEN MIRAN DISSENTS IN FAVOR OF RATE CUT

Fed officials also changed slightly their characterization of the uncertainty around the conflict in Iran: 

“Developments in the Middle East are contributing to a high level of uncertainty about the economic outlook.”

Back in March they said the implications for the US economy were “uncertain.”

In the spirit of Fed transparency, Powell leaves on a confusing note.

So, three of the dissenters opposed “inclusion of an easing bias.”

And yet the actual language of the statement arguably doesn’t specify such a bias.

It says that the committee would be prepared “to adjust the stance of monetary policy as appropriate.”

That doesn’t specify cutting interest rates.

It’s interesting that the trio of dissenters on the bias basically labeled this language as a bias to ease. Because arguably it’s neutral:

The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee’s goals.

The “goals” of course are price stability and maximum employment.

But it appears that the trio views this language as mainly attaching to the jobs mandate, it seems to us.

Fed officials said the economy is expanding “at a solid pace” with “low” job gains and the unemployment rate “little changed”. That’s all the same as in March.
 
Their characterization of inflation changed slightly:

“Inflation is elevated, in part reflecting the recent increase in global energy prices.”

However, as Bloomberg notes, in central bank world every word matters, and there has been extensive debate around the characterization of “additional adjustments.” Some Fed watchers deem the wording as signaling most policymakers still see a rate cut as their next likely step, in what’s known as an easing bias. That bias stayed unchanged today:

“In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks.”

Read the full red-line of The Fed statement below:

Tyler Durden Wed, 04/29/2026 - 15:45
Tyler Durden

Chinese Nationals Among 51 Indicted Over Marijuana Grow Operations In Oklahoma

Zero Rss
3 months 1 week ago
Chinese Nationals Among 51 Indicted Over Marijuana Grow Operations In Oklahoma

Authored by Michael Clements via The Epoch Times (emphasis ours),

A Department of Homeland Security investigation has resulted in the indictment of 51 defendants—including 29 Chinese nationals—on 67 counts of conspiracy to manufacture black-market marijuana in Oklahoma for distribution in Texas, Mississippi, Kansas, and North Carolina, among other locales.

Oklahoma drug enforcement agent Mike Garcia looks over rows of marijuana plants at an illegal grow facility in Ponca City, Okla, on Dec. 22, 2025. Allan Stein/The Epoch Times

The defendants are from California, Florida, Kansas, Michigan, Mississippi, New York, North Carolina, Oklahoma, and Texas. Of the 51 indicted, 23 are fugitives, and 11 of the Chinese defendants have obtained permanent legal residence in the United States.

The April 21 indictment alleges that between March 2025 and April 2026, a network of growers, brokers, transporters, and distributors sent marijuana into the black market in Oklahoma and across the United States.

Mike Garcia, agent in charge of the 8th District Attorney’s Drug Task Force and Major Crime Unit, told The Epoch Times that illicit operators often buy old houses or undeveloped property and add buildings to grow marijuana.

Garcia said it was difficult to stay on top of the operations.

“You have to keep countering the illegal [operations] to balance it out. It’s a hard thing to do,” Garcia said.

According to a Department of Justice news release on April 27, marijuana was allegedly transported from grow operations to stash houses, and then to customers for further distribution.

Defendants reportedly split the proceeds and also concealed those proceeds by transporting large amounts of cash and using businesses to disguise the nature of the funds.

The conspiracy was carried out, in large part, with cell phones, and, as alleged in the indictment, law enforcement intercepted calls of two of the main conspirators, Li Shun Chen, 53, and Ying Wang, 45, both of Oklahoma City, according to the press release.

A federal grand jury handed down the indictment on April 21. The indictment also calls for the forfeiture of properties and assets used to generate or mask proceeds of the black-market transactions, including properties throughout Oklahoma.

A vernal pool polluted with chemicals used for growing illegal marijuana border an agricultural form in Ponca City, Okla., on Dec. 22, 2025. Allan Stein/The Epoch Times

“Since 2021, when our agency created Marijuana Enforcement Teams (MET), we’ve proudly worked alongside our federal and state partners to target criminal organizations operating in Oklahoma,” Oklahoma Bureau of Narcotics and Dangerous Drugs Control Director Donnie Anderson said in the release. “These partnerships have resulted in a dramatic drop in illegal marijuana farms within our state.”

Oklahoma legalized medical marijuana on June 26, 2018, in hopes that a 7 percent excise tax and state and local property taxes would finance education and infrastructure while creating new jobs.

Mark Woodward, public information officer for the Oklahoma Bureau of Narcotics, said organized criminals used this as an opportunity to get involved. He told The Epoch Times that up to 85 percent of the illegal grow facilities in Oklahoma have ties to Chinese organized crime.

“They used straw owners because so many of them came here during the COVID-19 pandemic,” he said. “The first thing they wanted to do was try to look legitimate.”

The investigation was led by the U.S. Drug Enforcement Administration and the Oklahoma Bureau of Narcotics and Dangerous Drugs Control along with multiple federal, state, and local agencies.

The case is being prosecuted in the U.S. District Court for the Western District of Oklahoma.

Allan Stein contributed to this report.

Tyler Durden Wed, 04/29/2026 - 15:30
Tyler Durden

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