Here’s what a big corporation sounds like when it whines after posting record profits: Chevron, in a federal financial filing during the winter, griped about “higher U.S. upstream impairment charges mainly in California. Continued regulatory challenges in (California have) resulted in lower than anticipated future investment levels in…business plans.” Translation: Oil drilling is winding down in California and has been for the last ten years, partly because many wells are almost tapped out and Big Oil – having milked enormous profits from California’s resources for decades – is not happy about having to pay close-out costs. Make no mistake, it’s not state regulators who are responsible for t
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