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Magali Sanchez-Hall, a Wilmington resident for over two decades, has struggled with asthma her entire life. She says the health issue stems from her proximity to oil and gas drilling.
Emma Newburger | CNBC

LOS ANGELES, CALIF. — Stepping out of a coffee shop near Interstate 110 in the Wilmington neighborhood of Los Angeles, you’re immediately hit by a foul odor.

Magali Sanchez-Hall, 51, who’s lived here for more than two decades, is used to the smell of rotting eggs wafting from the hundreds of oil wells operating in the neighborhood. She’s used to her neighbors describing chronic coughs, skin rashes and cancer diagnoses, and to the asthma that affects her own family, who live only 1,500 feet from a refinery.

“When people are getting sick with cancer or having asthma, they might think it’s normal or blame genetics,” she said. “We don’t often look at the environment we’re in and think — the chemicals we’re breathing are the cause.”

Wilmington, a predominantly working-class and Latino immigrant community of more than 50,000 people, has some of the highest rates of asthma and cancer in the state, according to a report by the non-profit Communities for a Better Environment. It’s surrounded by six oil refineries and wedged in by several freeways and the ports of L.A. and Long Beach.

California, the seventh-largest oil-producing state in the U.S., has no rule or standard for the distance that active oil wells need to be from communities. For many Californians, especially Black and brown residents, acrid smells, noise and dirt from oil production is part of the neighborhood.

Walking around Wilmington, pumpjacks are visible in public parks, next to schoolyards where children play and outside of people’s windows at home. At night, the sky is lit orange from refinery flares.

The discovery of oil in the 1920s led to significant population growth in the area. People built and bought houses next to the oil fields and refineries, which employ thousands of residents in the area. In L.A. County, the industry employs about 37,000 people, according to a report by Capitol Matrix Consulting.

Oil tanks wedged between homes in the Wilmington neighborhood of Los Angeles.
Emma Newburger | CNBC

More than 2 million California residents live within 2,500 feet of an operational oil and gas well and another 5 million — 14% of the state’s population — are within 1 mile, according to an analysis by the non-profit FracTracker Alliance.

Residents are especially vulnerable in L.A. County, which is home to the Inglewood Oil Field. The 1,000-acre site is one of the largest urban oil fields in the country and is owned and operated by Sentinel Peak Resources. More than half a million people live within a quarter mile of active wells that release hazardous air pollutants like benzene, hydrogen sulfide, particulate matter and formaldehyde.

Sentinel Peak did not respond to requests for comment.

Sanchez-Hall didn’t understand the link between the nearby refineries and the health issues in her community until she left. She graduated college and pursued a masters degree at UCLA, where she took environmental law classes, and now advocates for clean air and energy in her neighborhood.

“Wilmington is ground zero for pollution,” Sanchez-Hall said. “Now I understood why people were dying of cancer around me. We’re not disposable people. There is a huge disadvantage because many of us don’t know what’s happening.”

No buffer zone between drilling and people

Research shows that people who live near oil and gas drilling sites are exposed to harmful pollution and are at greater risk of preterm births, asthma, respiratory disease and cancer.

Residing near oil wells is linked to reduced lung function and wheezing, and in some cases the respiratory damage rivals that of daily exposure to secondhand smoke or living beside a freeway, according to a recent study published in the journal Environmental Research.

Another study, published in the journal Environmental Health Perspectives, analyzed nearly 3 million births in California of women living within 6.2 miles of at least one oil or gas well. The authors concluded that living near those wells during pregnancy increased the risk of low-birthweight babies.

Environmental advocacy groups have urged California Gov. Gavin Newsom to instate a 2,500-foot buffer zone, or setback, between fossil fuel operations and homes and schools. This year, a bill to ban fracking and instate a buffer zone failed in a state committee vote.

Other oil-producing states including Colorado, Pennsylvania, and Texas have already implemented some form of buffer zone between properties and wells.

In 2019, Newsom ordered his regulators to study such a health-and-safety rule, but they didn’t meet the December 2020 deadline for action. State oil regulators also missed a more recent deadline in the spring to release new regulations that would help protect the health and safety of people living near drilling sites. The California Geologic Energy Management Division, which oversees the state’s fossil fuel industries, hasn’t yet set a new timeline for regulations.

Meanwhile, the governor since 2019 has approved roughly 9,014 oil and gas permits, according to an analysis of state data by Consumer Watchdog and FracTracker Alliance.

“Frontline communities have been waiting for very basic protections from dangerous oil and gas projects for too long,” said Hollin Kretzmann, an attorney for the Center for Biological Diversity, which recently sued the state for approving thousands of drilling and fracking projects without the required environmental review.

“A safety buffer is the bare minimum,” Kretzmann said. “The fact that our state continues to delay is frustrating and completely unacceptable.”

Josiah Edwards, 21, grew up near the largest oil refinery on the West Coast. “Oil drilling and refineries were always an ever present background in my life,” he said.
Emma Newburger | CNBC

The Western States Petroleum Association and the State Building and Construction Trades Council have opposed a statewide mandate to establish buffer zones, arguing that doing so would harm workers and increase fuel costs.

“A one-size-fits-all approach for an entire state for an issue like this is rarely good public policy,” said WSPA spokesman Kevin Slagle. “Setback distances not based data specific to a region could lead to significant impacts on communities, jobs and the affordability and reliability of energy in the state.”

Environmentalists have also called on Newsom to place an immediate moratorium on all new oil and gas permits in those zones.

Earlier this year, the governor directed state agencies to halt new fracking permits by 2024 and to consider phasing out oil production by 2045. The announced marked a shift in position by Newsom, who’s previously said he doesn’t have executive authority to ban fracking, which accounts for just 2% of oil extraction in California, according to the state’s Department of Conservation.

Newsom’s office did not respond to requests for comment.

Newsom’s predecessor, Jerry Brown, who held office between 2011 and 2018, approved 21,397 new oil wells. More than three-quarters of new wells under Brown’s administration are in low-income communities and communities of color, according to state data analyzed by the Center for Biological Diversity.

‘I could have had a better life’

Josiah Edwards, 21, grew up in Carson, a city located in the south bay region of Los Angeles and near the West Coast’s largest oil refinery, owned by Marathon Petroleum Corp. Edwards and his family members suffered from asthma and were constantly concerned about breathing in emissions of the nearby refineries.

“Oil drilling and refineries were always an ever present background in my life,” said Edwards, who now volunteers for the Sunrise Movement, an environmental advocacy group, in Los Angeles.

Edwards recalled getting bloody noses as a child and coming to connect them with the pollution from refineries. He dove into research on how exposure to pollution may contribute to the development of asthma in childhood and wondered if his life would have been different growing up elsewhere.

“It makes me angry and upset. There’s a situation where I could have had a better life with improved health outcomes,” Edwards said. “Even though it still makes me feel angry, I find a lot of hope in what could be. There’s a potential for change.”

Marathon spokesman Jamal Kheiry said the company’s refinery in Carson has invested in air emissions control equipment and cut its criteria pollutant emissions by 35% in the past decade. It’s also invested $25 million to install air monitoring systems along the perimeter of its facilities, and is providing those results to the public.

Wilmington Athletic Complex is located beside oil tanks.
Emma Newburger | CNBC

Phasing out oil and gas locally

Some parts of the state have taken matters into their own hands.

Culver City in L.A. County passed an ordinance to phase out oil and gas extraction in its portion of the Inglewood Oil Field within five years, in one of the most ambitious moves by an oil-producing jurisdiction. The ordinance also requires that all the wells be plugged and abandoned in that time period.

Ventura County, located northwest of L.A., has adopted a 2,500 buffer zone between oil wells and schools and 1,500 feet between wells and homes.

And L.A. County supervisors voted unanimously earlier this month to phase out oil and gas drilling and ban new drill sites in the unincorporated areas. The county is set to determine the quickest way to shut down wells legally before providing a timeline on the phase out.

Jacob Roper, a spokesperson for the Department of Conservation, of which CalGEM is a sub-agency, said the department is “hard at work developing a science-based health and safety regulation to protect communities and workers from the impacts of oil extraction activities.”

“This is a complex set of rules with subject matter outside of our previous regulatory experience,” Roper said. “It involves close collaboration with other state agencies and an independent public health expert panel in an effort to ensure a thorough analysis of relevant science and engineering practices.”

L.A. could become one of the first major cities in the U.S. to nearly phase out fossil fuels from power supply without disruption to the economy, according to a recent study commissioned by the city. Technologies like solar farms, wind turbines, batteries and electric vehicles would make the transition possible, while mitigating harmful air pollution in the most vulnerable communities.

“There are local officials who are taking this issue seriously,” Kretzmann said. “But the fires, ongoing drought and heatwaves in California are stark reminders that we need much bolder action on fossil fuels.”

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Ford is preparing for an all-new EV at its Louisville assembly plant, but which one?

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Ford is preparing for an all-new EV at its Louisville assembly plant, but which one?

The Louisville assembly plant is scheduled for an extensive retooling starting later this year to produce a new Ford EV model. After the Escape is phased out, Ford will upgrade the facility to introduce an all-new EV.

What new EV will Ford build in Louisville?

Since 2022, Ford has had the same three electric vehicles available in the US. The Mustang Mach-E, F-150 Lightning, and E-Transit. However, that could change soon.

According to Todd Dunn, president of UAW Local 862, Ford’s Louisville plant will likely see some major changes later this year.

Dunn told The Courier Journal that the retooling could take upwards of 10 months. Ford is expected to begin the upgrades in December when the Escape and Lincoln Corsair, which are made at the plant, are phased out.

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Although Ford has yet to confirm the retooling, according to Dunn, the downtime will impact around 2,300 workers at the plant. They are expected to be temporarily laid off during the retooling, but Dunn said they will qualify for supplemental unemployment benefits and will also be able to draw unemployment.

Ford-new-EV-Louisville
Ford Mustang Mach-E (left) and F-150 Lightning (right) (Source: Ford)

The upgrades are part of a 2023 UAW and Ford agreement to make the Louisville plant one of three due for a future EV model.

As to which EV, Dunn still doesn’t know, or when Ford will officially announce it. Since Ford already scrapped plans for a three-row electric SUV, that’s out.

Ford-new-EV-Louisville
Ford’s electric Explorer for Europe (Source: Ford)

Ford is planning to launch the first model on its long-awaited low-cost EV platform, a midsize electric pickup, in 2027. But this is expected to be built in Tennessee. A new “digitally advanced” electric van that will be built in Ohio is also due out next year.

2025-Ford-F-150-Lightning
2025 Ford F-150 Lightning (Source: Ford)

So, what mysterious new EV is Ford planning for Louisville? Ford spokesperson Jess Enoch told The Courier-Journal last year that the company is “committed to an all-new electric vehicle” at the plant but said, “We will share details closer to launch.”

The news comes after Ford’s Mustang Mach-E notched its highest first-quarter sales since its launch, with 11,607 units sold in the first three months of 2024. F-150 Lightning sales, on the other hand, fell 7%.

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Eric Trump says he moved to crypto after family business became ‘most canceled company’

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Eric Trump says he moved to crypto after family business became 'most canceled company'

American Bitcoin co-founder Eric Trump: Crypto's the 'future of the modern financial system'

Eric Trump says his family was “the most canceled company, probably on Earth.”

That was then.

With his dad, President Donald Trump, back in the White House, he sees a new money-making opportunity.

“It actually is what drove us toward cryptocurrency,” the president’s middle son told CNBC, referring to the Trump family’s latest business endeavors. “You realize that cryptocurrency was a lot faster, it was a lot more pragmatic, it was a lot more transparent, it was exponentially cheaper.”

In 2022, about two years after the end of President Trump’s first term, two subsidiaries of the Trump Organization were convicted by a jury in New York of multiple crimes, including tax fraud, falsifying business records and conspiracy. The guilty verdicts on all 17 charged counts came three weeks after Trump declared his 2024 candidacy.

Last month, the Trump Organization sued Capital One in Florida over allegedly “unjustifiably” closing more than 300 of the company’s bank accounts following the Jan. 6, 2021, riot at the U.S. Capitol. The lawsuit claimed Capitol One was acting on “unsubstantiated, ‘woke’ beliefs that it needed to distance itself from President Trump and his conservative political views.”

Prior to Trump’s return to the White House, the Trump Organization unveiled a new ethics plan that said it would limit the president’s involvement in management decisions and other aspects of the business while he’s in office.

President Donald Trump (2R), flanked by US Secretary of Commerce Howard Lutnick (L), US Secretary of Treasury Scott Bessent (2L) and White House AI and Crypto Czar David Sacks (R), attends a the White House Crypto Summit in Washington, DC, March 7, 2025. 

Jim Watson | Afp | Getty Images

But crypto is another matter. President Trump and First Lady Melania Trump launched meme coins just before the new term, adding billions of dollars of paper wealth to the family’s net worth.

Eric Trump and older brother Donald Trump Jr. are going even bigger. They recently announced plans to launch a U.S. dollar–backed stablecoin through their new venture, World Liberty Financial, and a new bitcoin mining company called American Bitcoin, co-founded with Hut 8 CEO Asher Genoot.

Eric Trump described his entry into crypto not as a financial bet, but as a form of resistance, and said the move began during what he calls the “war on the industry.” Banks were closing accounts, the SEC was cracking down on exchanges, and crypto users were being “debanked” for simply holding coins, he said.

“They were going after people,” he said. “They were suing everybody. Banks were closing down people that just wanted to own bitcoin.”

That’s when Eric Trump said he started associating with like-minded people in and around crypto.

“At this point, I know almost everybody in the industry in some way, shape or form,” he said. “I fell in love with the industry, you know, a few years ago, and really dove head in.”

At World Liberty Financial, the Trump brothers are backing a stablecoin play aimed at competing with players like Tether. Eric Trump didn’t have a specific answer when asked how the project would stand out in a crowded field, saying only, “We’re gonna do it better, cheaper, faster, and we’re gonna do it with a lot of passion.”

Read more about tech and crypto from CNBC Pro

Meawhile, he’s working with Genoot to stand up American Bitcoin, a new mining venture that aims to scale quickly, and possibly go public.

Genoot told CNBC he connected with the Trump kids through mutual friends and began trading stories about their paths into crypto, leading to a business alliance.

Genoot said the company is being separated from Hut 8’s broader energy and artificial intelligence infrastructure platform.

“We’re actually carving out the majority of our assets,” Genoot said. “We’re putting them into American Bitcoin.”

Eric Trump, who is co-founder and chief strategy officer of American Bitcoin, said “every single sophisticated country is using their excess power to mine bitcoin.”

Though his family is closely linked to the current administration’s pro-crypto stance, Eric Trump said he has no role in policy and no contact with the White House. His dad’s presidency was heavily funded by the crypto industry and, since returning to the White House, President Trump has rewarded his backers, signing an executive order to create a strategic bitcoin reserve, and pardoning Silk Road creator Ross Ulbricht as well as the three co-founders of the BitMEX crypto exchange.

“I don’t have anything to do with government, and frankly, I don’t want anything to do with government,” Eric Trump said.

But he made clear that the U.S. needs a regulatory framework that allows crypto to thrive.

“You better believe that China is running very hard at this. The entire Middle East is running very hard,” he said. “We won the space race. We better win the crypto race.”

WATCH: Eric Trump, Hut 8 CEO outline partnership to launch new bitcoin mining company

Eric Trump, Hut 8 CEO outline partnership to launch new bitcoin mining company: CNBC Crypto World

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Greenlane and Volvo’s bold plan to transform electric truck charging in the US

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Greenlane and Volvo’s bold plan to transform electric truck charging in the US

Greenlane is teaming up with Volvo Trucks North America to make charging heavy-duty electric vehicles (HDEVs) easier and more accessible.

The charging network developer is now integrated into Volvo’s Open Charge service, which gives Volvo customers streamlined access to Greenlane’s public chargers. This collaboration makes Greenlane the first official Charge Point Operator (CPO) in North America to partner with Volvo.

Greenlane is a joint venture between Daimler Truck North America, NextEra Energy, and BlackRock. It’s building a US-wide charging network for heavy-duty commercial vehicles, aiming to reduce costs and simplify switching to electric fleets.

Through Volvo Open Charge, Volvo customers now have real-time access to Greenlane’s network, which means easier access to public charging, centralized billing, and special perks. Fleets won’t have to spend big money on their charging infrastructure. Instead, they can plug into Greenlane’s growing network, which will help cut costs and operational headaches while extending range.

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Patrick Macdonald-King, Greenlane’s CEO, called the partnership “a first-of-its-kind collaboration to deliver public charging solutions tailored to the needs of medium- and heavy-duty fleets.” He said it’s all about making the shift to electric trucks smoother and keeping goods and services moving while progressing toward zero-emissions freight.

Greenlane’s flagship charging site is set to open in Colton, California, in April, with more than 40 publicly accessible chargers for everything from heavy-duty trucks to smaller electric vehicles. It’s part of a larger plan to build a network along the I-15 corridor, with stations roughly 60 to 90 miles apart. Future California locations are planned for Long Beach, Barstow, and Baker.

Greenlane and Volvo will continue integrating new membership features into Volvo Open Charge, such as booking reservations. By letting fleets tap into an existing public network, Greenlane’s services can make the transition to electric trucking less about building infrastructure and more about just getting trucks on the road.

Read more: Greenlane’s flagship electric charging truck stop to open in April


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