In California’s sun-drenched Kern Valley, Chevron Corp. has found a way to use one of the state’s clean-energy programs to cut costs. (Bloomberg) — In California’s sun-drenched Kern Valley, Chevron Corp. has found a way to use one of the state’s clean-energy programs to cut the cost of pumping oil, to the chagrin of some environmentalists. Since April, solar panels have been powering oil pumps at Chevron’s Lost Hills 7,981 barrel-a-day oil field, according to the company. The 29-megawatt site, owned and operated by San Jose-based SunPower Corp., is designed to provide the field with 80% of its electricity, equal to taking more than 4,000 cars off the road. In exchange, Chevron will earn so-called low-carbon fuel standard credits worth about $4 million a year at current prices. “Electricity is one of Lost Hills field’s largest operating expenses, so having solar will be an important factor to help keep […]