Last week oil industry giant Chevron announced it would cut around 26 percent of the workforce in its San Joaquin Valley Business Unit. That's the part of the company that produces oil from fields in Kern and Fresno Counties. It's not the first big job cut in the industry but it could hurt the local economy, especially in Bakersfield. But is this latest news the result of low oil prices, or other factors? Longtime valley journalist Lois Henry joins us Valley Edition to talk about the news, as well as her new venture, working with an industry group called BizFed.