Oil company at center of Orange County spill received millions in federal relief

The energy company at the center of a massive oil spill off the Orange County coast has received roughly $31 million in federal relief since 2016, Rep. Katie Porter said during a congressional subcommittee hearing on Monday.

The “special case” discount granted by the Bureau of Safety and Environmental Enforcement will cut the company’s royalty payment by roughly $11 million on drilling operations off the Orange County coast through 2022. “These subsidies and so many others are reasons that oil wells like the ones behind this leak are still active,” Porter said. “Getting rid of the subsidies is the first step to get rid of the problem.”

In Southern California, Amplify operates two platforms, Ellen and Eureka, which are equipped with drilling rigs and other equipment.

OF COURSE THEY DID

Go get them, RepKatiePorter

I love her

good luck

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‘Crazy’ Bets on $200 Oil Invade the Options Market“I haven’t seen crazy strikes like this in a long time.” Traders have piled into wagers that U.S. oil prices will top $100, while some are betting Brent crude will hit $200 next year. Nope never happen... Electric cars and less travel. Plus South Dakota gas. It worked lat year from GameStop to Tesla, so why not? 😶
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