California
Global IT outage in July exacerbated California fuel storage issues, says storage broker
By Shariq Khan
NEW YORK (Reuters) – Last month’s CrowdStrike IT outage that grounded scores of flights created new problems for California’s fuel market, forcing U.S. traders to store jet fuel destined for the state on waterborne tankers, storage broker The Tank Tiger told Reuters this week.
The outage exacerbated existing constraints on petroleum storage in California, where policies aimed at ending fossil fuel usage have made it harder to setup new oil and gas infrastructure.
“When it comes to petroleum products storage in California, there has been no room at the inn for several years,” Ernie Barsamian, founder of U.S. terminal storage clearinghouse, The Tank Tiger said on Wednesday.
But California’s location on the U.S. West Coast makes it a major petroleum trading hub, keeping demand high. That opens the region to outsized fuel price shocks during periods of disruptions, such as the IT outage or refinery snags.
“Despite prevailing demand, permitting for new storage tanks (in California) is a cumbersome process,” Barsamian said. As a result, storage costs in California are twice as high as trading hubs in New York Harbor or Houston, he said.
California’s Certified Unified Program Agency, responsible for implementing the state’s Aboveground Petroleum Storage Act Program, did not immediately respond to a request for comment.
When flights were grounded in July, the unconsumed jet fuel could not find a home in California, and had to be re-positioned to waterborne locations off the coasts of Houston and New Orleans, Barsamian said.
Traders use ships as storage only as a last-resort when land storage is full or unavailable, as keeping the vessels in use longer delays their journeys, tightening the market and increasing costs.
Jet fuel inventories in onshore tanks dotting the U.S. West Coast shot up to over 12 million barrels in the week ended July 26, a record high. The CrowdStrike outage began on July 19.
Strong demand for the product has led to West Coast imports increasing significantly this year, analysts at ship-tracking service Kpler said. That has kept inventories higher than normal this year.
West Coast imports from within the U.S. and outside have averaged about 135,000 barrels a day this year, about 25,000 bpd higher than last year, Kpler data showed.
West Coast jet fuel stocks stood at 11.8 million barrels last week, nearly 28% higher than last year.
(Reporting by Shariq Khan in New York; Editing by Aurora Ellis)
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California
Celebrate California's wildlife with event in Fresno
![Celebrate California's wildlife with event in Fresno Celebrate California's wildlife with event in Fresno](https://cdn.abcotvs.com/dip/images/15243179_082924-kfsn-wildlife-new-vid.jpg?w=1600)
Thursday, August 29, 2024 2:03PM
The Fresno Chaffee Zoo will join forces with the San Joaquin River Parkway and Conservation Trust to celebrate California’s wildlife.
FRESNO, Calif. (KFSN) — The Fresno Chaffee Zoo will join forces with the San Joaquin River Parkway and Conservation Trust to celebrate California’s wildlife through a day of special events and activities.
There will be two sets of hands-on activities taking place this Saturday, August 31, at the River Center on Old Friant Road near Woodward Park.
It’s followed by a celebration for all event participants.
There will also be food trucks on site for lunch options, as people learn more about local conservation organizations on site and enjoy free ice cream and popsicles.
This event is free!
Copyright © 2024 KFSN-TV. All Rights Reserved.
California
California Republican lawmaker reacts to 'crazy' bill that would give undocumented first-time homebuyers money
![California Republican lawmaker reacts to 'crazy' bill that would give undocumented first-time homebuyers money California Republican lawmaker reacts to 'crazy' bill that would give undocumented first-time homebuyers money](https://static.foxnews.com/foxnews.com/content/uploads/2024/08/Seattle-Home-For-Sale.jpg)
California Democrats are “crazy” for passing a progressive legislature that would give illegal immigrants up to $150,000 in first-time homeownership, officials said.
The bill, AB 1840, would require the California Housing Finance Authority’s home purchase assistance program, or California Dream for All Program, to include illegal immigrants’ applications.
The bill cleared the state Senate on Tuesday.
CALIFORNIA CLOSE TO APPROVING $150K LOANS FOR ILLEGAL IMMIGRANTS TO HELP PURCHASE HOMES
Illegal immigrants in California could be eligible for state assistance in buying a home under a bill the state Legislature sent to Democratic Gov. Gavin Newsom (David Ryder/Bloomberg via Getty Images)
In a statement to Fox News Digital, California Assembly Republican Leader James Gallagher (R-Yuba City) argued that the legislation would exacerbate the border crisis, the housing crisis and the high cost of living in the Golden State.
EX-CALIFORNIA SLAMS STATE BILL THAT GIVES ILLEGAL IMMIGRANTS HOUSING LOANS: ‘ASININE’
“I didn’t know it was possible to make the border crisis and the housing crisis worse with just one vote, but Democrats found a way,” Gallagher said. “Giving taxpayer-funded housing subsidies to illegal immigrants will drive costs even higher and encourage more chaos at the border.”
“This is crazy, and it needs to stop,” he said.
![California state capitol](https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2024/05/1200/675/Sacramento-State-Capitol.png?ve=1&tl=1)
A view of the California state capitol building on National Urban League California Legislative Advocacy Day on March 13, 2024 in Sacramento, California. (Arturo Holmes/Getty Images for National Urban League)
The California Dream for All program passed despite funds running out just 11 days after being instituted in June, which was awarded to 1,700 first-time homebuyers at the time. Finding more funding for the program was the prime concern in floor debate.
The program gives first-time homebuyers up to 20% of a home’s value or up to $150,000 as down payment assistance. The bill now heads back to the California state Assembly to go over revisions made by the state Senate.
![Gavin Newsom](https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2024/07/1200/675/Gavin-Newsom.png?ve=1&tl=1)
California Gov. Gavin Newsom greets people, Monday, July 8, 2024, near the Common Man Roadside Market and Deli, in Hooksett, N.H. (AP Photo/Steven Senne)
The bill passed by 12 votes, following the party line at 23-11. Some Democrats present did not vote.
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California Gov. Gavin Newsom has not said whether he will sign the bill into law if it clears the legislature before the Aug. 31 deadline.
In a statement to Fox News Digital, Gov. Newsom’s press secretary said that the California governor will evaluate the legislation when it reaches his desk.
Fox News Digital’s Jasmine Baehr contributed to this report.
California
California lawmakers pass bill to limit AI replicas
![California lawmakers pass bill to limit AI replicas California lawmakers pass bill to limit AI replicas](https://assets1.cbsnewsstatic.com/hub/i/r/2024/08/28/2459fabc-6d0c-4a35-b590-f3ea84fe1b4d/thumbnail/1200x630/10772b817fc66083d59192f8307b9420/cbsn-fusion-california-lawmakers-pass-bill-to-limit-ai-replicas-thumbnail.jpg?v=25685eaa472b1a5dbb5bd46ae506d232)
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