California needs Occidental much more than Oxy needs California; they just don't know it yet. These are the kinds of environmental lunacies that drive good businesses elsewhere. We view this bad news as good news; first off, it's temporary and, second, it's a buying opportunity in our view.
Finally, in the interest of full disclosure: we own Oxy and continue to add to it on
weakness.
.http://www.bloomberg.com/news/2014-03-19/california-city-s-drilling-ban-slows-occidental-s-plan.html
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