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California: Sitting atop black gold, forgoing for the green?
Hot Air ^ | February 4, 2013 | Erika Johnsen

Posted on 02/04/2013 8:21:48 PM PST by 2ndDivisionVet

While touting his ostensible “all of the above” energy plan and working the campaign trail not so very long ago, President Obama would justify his many expensive green-energy plans by repeatedly saying something along the lines of, “America consumes 20 percent of the world’s oil, but only has two percent of its reserves” — which is about as bogus a statistic as it gets. America only having two percent of the world’s oil relies on measures of its proven reserves, i.e., the amount of oil that has both been discovered and is technologically and economically feasible to extract, remaining static.

New technology means that oil deposits the world over are suddenly a lot more available for cost-effective human productivity, and while certain states have taken advantage of the effectively growing oil-and-gas abundance — North Dakota has been raking it in by tapping into the Bakken shale formation — California is sittin’ pretty atop a formation four times the size of that one. The NYT reports:

These wells are tapping crude directly from what is called the Monterey Shale, which could represent the future of California’s oil industry — and a potential arena for conflict between drillers and the state’s powerful environmental interests. …

Comprising two-thirds of the United States’s total estimated shale oil reserves and covering 1,750 square miles from Southern to Central California, the Monterey Shale could turn California into the nation’s top oil-producing state and yield the kind of riches that far smaller shale oil deposits have showered on North Dakota and Texas.

For decades, oilmen have been unable to extricate the Monterey Shale’s crude because of its complex geological formation, which makes extraction quite expensive. But as the oil industry’s technological advances succeed in unlocking oil from increasingly difficult locations...

(Excerpt) Read more at hotair.com ...


TOPICS: Business/Economy; Government; Politics
KEYWORDS: california; energy; greenenergy; obama; oil
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1 posted on 02/04/2013 8:22:01 PM PST by 2ndDivisionVet
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To: 2ndDivisionVet

We have tons of gold and other resources here in Cowleeforniah.

It’s just that we would rather go broke than use them.


2 posted on 02/04/2013 8:23:30 PM PST by Nachum (The Obama "List" at www.nachumlist.com)
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To: Nachum

“It’s just that we would rather go broke than use them.”

Whaddya mean “we”? ;)


3 posted on 02/04/2013 8:28:16 PM PST by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
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To: 2ndDivisionVet

Another thing people like Obama ignore when they use those bogus stats is that we LEAD THE WORLD IN GDP.

We aren’t just wasting that energy.
We invent things and make things that change peoples lives.
Things that revolutionize the world and raise everyone’s standard of living around the world.

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28nominal%29


4 posted on 02/04/2013 8:33:01 PM PST by mylife (The Roar Of The Masses Could Be Farts)
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To: 2ndDivisionVet
Maybe it is time that the herd is thinned in places like CA and NY. NY doesn't want do develop Marcellus Shale unlike OH, PA, and WV. Below the Marcellus Shale is Utica Shale. That is the next play, particularly in OH and NY where it isn't all that deep. It is amazing CA sits on its natural resources the same way as NY. Well, actually not. Both are liberal states.

Maybe the rest of the country that is developing its resources while CA and NY are pursuing their socialist utopia, we should just cut CA and NY off from those evil petrochemicals. After all, that stuff is too dangerous to develop and they should understand. Let them buy their oil and gas from Muslims, while the rest of the country exports our unused quantities to the world for profit.

5 posted on 02/04/2013 8:37:09 PM PST by ConservativeInPA (Molon Labe)
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To: ConservativeInPA
500 Billion barrels baby ...about half the known worlds reserves...

San Jose to LA.....just drill it ...instead of that stupid high speed train

6 posted on 02/04/2013 8:44:43 PM PST by spokeshave (The only people better off today than 4 years ago are the Prisoners at Guantanamo.)
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To: spokeshave

Folks don’t remember .29 ethyl.

It doesn’t matter anymore. Shale explosion find in the Dakota’s. Doesn’t matter.

What are you paying at the pump.................


7 posted on 02/04/2013 8:51:29 PM PST by eyedigress ((zOld storm chaser from the west)/)
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To: 2ndDivisionVet

China owns it. Collateral.


8 posted on 02/04/2013 8:54:53 PM PST by ViLaLuz (2 Chronicles 7:14)
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To: Nachum
We have tons of gold and other resources here in Cowleeforniah. It’s just that we would rather go broke than use them.

They belong to Ghia, we cannot rape the Goddess.

9 posted on 02/04/2013 8:58:47 PM PST by ansel12 (Romney is a longtime supporter of homosexualizing the Boy Scouts (and the military).)
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To: ansel12

What the hell are you talking about. That’s like saying a Panda cannot eat Bamboo or crap on land.


10 posted on 02/04/2013 9:04:52 PM PST by eyedigress ((zOld storm chaser from the west)/)
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To: eyedigress

During one “gas war” on Long Island the price of leaded regular was 19.9 cents per gallon in the early 1970’s down from 24.9 cents.


11 posted on 02/04/2013 9:08:43 PM PST by Calamari (Pass enough laws and everyone is guilty of something.)
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To: Nachum

the only resources that liberals want to tap is in other peoples earnings


12 posted on 02/04/2013 9:11:06 PM PST by KTM rider ( American at heart..... Rebel by force)
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To: Calamari

The lowest I ever saw was .27 in Tennessee. You understand my point. Oil everywhere, I don’t see it.


13 posted on 02/04/2013 9:11:36 PM PST by eyedigress ((zOld storm chaser from the west)/)
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To: ansel12

What about a little foreplay for the goddess?


14 posted on 02/04/2013 9:12:25 PM PST by Calamari (Pass enough laws and everyone is guilty of something.)
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To: Calamari

In the 1960s gas used to dip to 17 cents during gas wars, and I think there was even 14 cent gas. Twenty one cent gas was pretty common.


15 posted on 02/04/2013 9:13:01 PM PST by ansel12 (Romney is a longtime supporter of homosexualizing the Boy Scouts (and the military).)
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To: Calamari; eyedigress
What about a little foreplay for the goddess?

I suppose you want a big platter of Panda ribs to go with that?

16 posted on 02/04/2013 9:15:30 PM PST by ansel12 (Romney is a longtime supporter of homosexualizing the Boy Scouts (and the military).)
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To: eyedigress

Yes. And we need to start refining our own and build some refineries. Increase the supply reduce the price.


17 posted on 02/04/2013 9:17:43 PM PST by Calamari (Pass enough laws and everyone is guilty of something.)
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To: ansel12

If he can’t eat off of “dear Mother” I don’t want anything to do with it.

Maybe some store bought bamboo will do....


18 posted on 02/04/2013 9:18:02 PM PST by eyedigress ((zOld storm chaser from the west)/)
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To: eyedigress

Yes. And we need to start refining our own and build some refineries. Increase the supply reduce the price.


19 posted on 02/04/2013 9:18:07 PM PST by Calamari (Pass enough laws and everyone is guilty of something.)
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To: Calamari

Tough Business.


20 posted on 02/04/2013 9:19:09 PM PST by eyedigress ((zOld storm chaser from the west)/)
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