-March 28,2020-
Kern oil industry suffers
Rural Fresno gas stations are leading the way as gasoline prices continue to plunge in California and nationwide. Two stations -one in Reedley and one in Auberry are now offering fuel for under $2 a gallon, one at $1.98 today and one at $1.99 according to Gas Buddy.In th Midwest and South more
stations are selling fuel for 99 cents. The US oil industry is reeling due the the sudden collapse of prices worldwide due to Saudi Arabia’s price war.Kern crude is selling for $18 a barrel as of today.It was priced at $46 in early March and $64 in January -almost a 70% decline.
TV station 17 of Bakersfield interviewed a Kern producer. “Local independent oil producer Chad Hathaway admitted the numbers look scary.
“I was trying not to watch,” said Hathaway, president of Hathaway LLC. “Yeah, (the price has) cratered… It’s cratered quite a bit… I’m not looking because I don’t want to jinx it.”
Hathaway, like many, has ratcheted back in a big way.“For me this is my third downturn, substantial turndown,” he said. “And I grew up around it as well.
“We act immediately. We can’t afford to get into the red ink too much for too long. We have to start cutting back. We cut our capital projects. We cut our workforce. We cut our hours. We cut everything and anything that we can.”
Renewable milk cartons are here
Clover Sonoma, a third-generation family-owned and operated dairy, today announced its B Corporation recertification and the first fully renewable plant-based milk carton in the United States as part of its continued focus on sustainability. As a result of better employee and community engagement, environmental standards, and corporate governance, the company received an improved score of 100.5 during its B Corporation recertification. Clover Sonoma attained a 96.9 score during its original certification in 2016. During its three-year certification term, Clover Sonoma’s commitment to curating its relationships with farmers, employees, community, suppliers, and consumers across California has improved its social and environmental impact, and influence as a mission-driven business.