Skip to comments.A California 'Black Gold' Rush
Posted on 09/29/2009 8:52:35 AM PDT by raptor22
Energy: An amazing number of oil finds have been made this year, including the biggest in California in 35 years. If the world is running out of oil, why do we keep finding more of it?
The mantra of the anti-drilling crowd has been that oil companies like to sit on their leases and the oil in the ground, hoping to drive up the price. They should use the leases they have or lose them, these critics say. They also like to add that the world is running out of oil so it doesn't matter anyway.
Occidental Petroleum hasn't been sitting on anything. For the past decade it's been actively acquiring drilling rights and leases in California where the oil, at least on land, has been said to be an exhausted resource.
(Excerpt) Read more at realclearmarkets.com ...
According to the article, there are potentially 7 *billion* barrels of oil in the region.
I get it now.
California voters (in an alter world) would vote in only Reppublican conservatives who would promise to DRILL on their land, sea and other resources that GOD HAS PROVIDED and kick out the libtards and enviros who are CAUSING THE STATE of California to sink in its own debtpool!
Drill Here! Drill Now!
While we still remember how!
The greenies are preventing drilling for black gold....
Meanwhile there are dust storms in the Central Valley forecasted today.
These critics are pro-drilling/pro-consumer and the oil companies are neither. Oil companies don't like to flood the market and drive down oil prices and that is why they sit on their leases. That is just the fact of the matter.
In 1980, Julian Simon challenged Ehrich’s contention the world was running out of resources.
He made a bet with Paul Ehrlich that a certain list of resources would be cheaper in 1990 than they were in 1980
Paging Jed Clampett!
The oil companies would be glad to pump the oil they have or are going to find in the guture.
Tell that to the environazis who stop every type of energy resource extraction they can find.
Just as an example, in 1953 Chevy introduced a concept car(one example only), the corvette, albeit it had a 6 cylinder engine it was a tremendous success.
The company decided it had to build it to meet public demand so in 6 MONTHS they went from a concept car to a production car and introduced the 1954(cars brought out in 53 were designated 54s and so on and so forth)corvette, they sold only 300 copies but by 1954 when the 1955 models came out they had brought out their first V8, the 265 CI and the corvette took off into history.
The point of this story is that a car company went form one model of a concept car to full production in 6 MONTHS, something no car company can do now because of the onerous government regulations imposed on all manufacturers today, most of them useless and used only for control, not to benefit anyone. We need to go back to allowing free enterprise to be just that, free of useless government regs.
Drill here, drill now and, BTW, impeach Obama.
PEAK OIL! PEAK OIL! PEAK OIL! /sarcasm
Sorry, I just love calling the “peakers” on the carpet.