Monterey Shale Shakes Up California's Energy Future

National Geographic ^ | 27 May 2013 | Josie Garthwaite

[rjbemsha]

[A] move is afoot for a ... new energy development in the Golden State ... [in] the Monterey shale formation, a vast rock formation that is believed to hold one of the world's largest onshore reserves of shale oil.... Oil companies are seeking to stake their claim to this prize....

According to U.S. government estimates, as much as 15.4 billion barrels of oil could be locked within the Monterey shale. That would be more than double the amount of oil reckoned to lie within the Bakken shale, the booming play that has made North Dakota the nation's number 2 oil-producing state behind Texas.

[But] the San Joaquin Valley, site of historic tension over river flow, aquifer-pumping, and irrigation, is a dubious location for a business that requires large volumes of water to fracture the underground rock.

[rjbemsha]

"[The formation] is a storehouse that, if developed, could add as many as 2.8 million jobs by 2020 and increase tax revenue for state and local governments by $4.5 billion, according to an analysis by University of Southern California academics."

[But opponents say:] "People have to start saying, 'Nope, [Monterey shale oil] stays in the ground,' because of climate change, and that line ought to be drawn in California."

[wita]

“[But opponents say:] “People have to start saying, ‘Nope, [Monterey shale oil] stays in the ground,’ because of climate change, and that line ought to be drawn in California.”

Opponents of the opponents have been heard to say, increased revenue in the hands of democrats can only lead to our next financial disaster.

[GOP Poet]

Bookmark

[3Fingas]

California could have a new gold rush, but the politicians running that state and the welfare dependency that they created and now keeps them in power are morons.

[MasterGunner01]

If the CA Assembly would free Monterey shale oil for development, Gov. Jerry Brown would veto it.

The Environmental nuts would be ranting and raving about how dangerous it was, preserving the natural beauty, and global warming (aka climate change).

If development was be approved, at least one or several state bureaucracies would hamstring the project and jack-up the costs through the stratosphere. Obama might get the EPA involved to shut things down or delay the project.

I think I've covered most of the bases in the anti-Monterey oil shale development.

[Baseballguy]

What I dont understand is CA could allow it and tax them to pay for their debt. What is wrong with that state.

[wita]

What is wrong with that state.

Not a darn thing, the people on the other hand...

I know, broad brush and all, but really...

[newfreep]

Eco-terrorists

[MasterGunner01]

If anyone could answer WTH is wrong with the Golden State, there’d be a lot of folks wanting to buy you a very expensive steak dinner with all the fixings. About all we can say to explain it for now: Liberalism is a mental illness or disease. It is a malignant cancer that destroys lives, wealth, hope, thought, and freedom everywhere it manifests itself. Liberals (aka Progressives) are hideous destroyers and killers. The 20th century saw 200 million souls killed for its twisted promises.