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California Pumpjack (Joel Pollak / Breitbart News)

OPEC Concedes Defeat In Anti-Shale Oil War with U.S.

OPEC’s attempt to over-produce crude oil for export to crush prices and bankrupt the American shale-fracking oil boom has failed, according to a draft OPEC long-term strategy report seen by Reuters ahead of the cartel’s policy meeting in Vienna on June 1st.

Carlsbad Goo (Josh Koonce / Flickr / CC / Cropped)

Miles of SoCal Beach Closed Due to Mysterious Globs of Oil

Strange black blobs of tar-like goo surged on onto southern California’s Manhattan Beach by the thousands, closing down the two-mile area Wednesday while the U.S. Coast Guard and National Ocean and Atmospheric Administration are investigating the source and substance.

SD-UT (Nathan Rupert / Flickr / CC / Cropped)

Mass Layoffs at SD-UT

San Diego Union-Tribune employees are suffering 178 layoffs this week resulting from May’s announced sale of the newspaper from Doug Manchester to multi-news outlet owner of the Los Angeles Times, Tribune Publishing.

Da Vinci Fire (Nancy Yuille / Associated Press)

LAPD Anti-Terror Cops Arrest Suspect in Massive Downtown Fire

The Los Angeles Police Department (LAPD) has arrested a suspect, Dawud Abdulwali, 56, on arson charges connected with the massive downtown fire last December that consumed the Da Vinci apartment complex. The Los Angeles Times reports that Abdulwali was arrested Tuesday morning during a traffic stop, and after a lengthy investigation.

Eric Garcetti Raise the Wage (Eric Garcetti / Flickr / CC / Cropped)

Hypocrites: L.A. Labor Wants Exemption from $15 Min. Wage

Labor leaders, who insisted for most of the last year that no exemptions should be allowed when instituting a minimum wage hike for the City of Los Angeles, have changed their tune now that the Los Angeles City Council approved the hike to $15 last week, asserting that companies whose employees are unionized should be exempted from the forced wage hike.

global warming

Covered California May Merge with Bankrupt State Obamacare Exchanges

With major insurers in some states proposing up to 51 percent Obamacare insurance premium increases, liberal Democrats are scrambling to avoid a political and financial disaster. One proposal is to merge California’s financially troubled “Covered California” exchange with the even more insolvent state exchanges, like “Cover Oregon,” which was forced to shut down last year.

AFP

Snapchat CEO Warns it’s a “Matter of When” Tech Bubble Bursts

Snapchat CEO Evan Spiegel revealed Tuesday at the California Code Conference in Rancho Palos Verdes that the company is planning for an initial public offering (IPO). He said the company, recently valued at $15 billion, had no desire to be acquired in a merger like the Facebook’s $3 billion offer two years ago. Then, in a refreshing twist for such a young captain of industry, Spiegel warned that the Fed’s “easy money policy” and low interest have created a tech bubble and it’s only a “matter of time till it bursts.”

AP Photo/Rich Pedroncelli, File

California Democrats Disagree: How Much Surplus to Waste?

California is enjoying another year of budget surplus–and the state’s Democrats cannot wait to spend the spoils. Though Gov. Jerry Brown’s new plans call for spending an additional $7.5 billion more than originally budgeted–an increase that is larger than the entire budgets of some states–Democrats in the state legislature are predicting a $2.5 billion surplus in the year to come, and bickering over which of the state’s generous social welfare programs will benefit from the new cash.