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SAN FRANCISCO (AP) — A long-anticipated campaign to legalize recreational marijuana use in the state that produces more pot than any other commenced in California on Wednesday as supporters announced they have collected enough signatures to qualify a voter initiative for the November ballot.
By Ernest Scheyder and Terry Wade HOUSTON (Reuters) - The rout in crude prices is snowballing into one of the biggest avalanches in the history of corporate America, with 59 oil and gas companies now bankrupt after this week's filings for creditor protection by Midstates Petroleum and Ultra Petroleum. Charles Gibbs, a restructuring partner at Akin Gump in Texas, said the U.S. oil industry is not even halfway through its wave of bankruptcies. Some oil producers appear to be holding on, hoping the price of crude stabilizes at a higher level.