Skip to comments.California could be next oil boom state (That is, if drilling is allowed)
Posted on 01/14/2013 12:28:45 PM PST by SeekAndFind
California is sitting on a massive amount of shale oil and could become the next oil boom state. But only if the industry can get the stuff out of the ground without upsetting the state's powerful environmental lobby.
Running from Los Angeles to San Francisco, California's Monterey Shale is thought to contain more oil than North Dakota's Bakken and Texas's Eagle Ford -- both scenes of an oil boom that's created thousands of jobs and boosted U.S. oil production to the highest rate in over a decade.
In fact, the Monterey is thought to hold over 400 billion barrels of oil, according to the U.S. Geological Survey. That's nearly half the conventional oil in all of Saudi Arabia. The United States consumes about 19 million barrels of oil a day.
"Four hundred billion barrels, that doesn't escape anyone in this businesses," said Stephen Trammel, energy research director at IHS Cambridge Energy Research Associates.
The trick now is getting it out.
(Excerpt) Read more at money.cnn.com ...
Drilling will indeed be allowed following CW-II.
They’ll need the money anyway to help fund all the guillotines that’ll be needed to off the libs.
As usual, I’ll volunteer to pull the handle(s).
I predict that CA will allow the drilling legally in theory, but whatever site a company actually tries to drill at will be opposed so strongly that it will never happen.
Well, isn’t the effect the same? i.e., no oils gets produced?
Which means there’s no difference between allowing and not allowing.
Drill in Monterey, that will be the day.
I don’t believe increased oil production will be allowed. The history of the Air Resources board and EPA in California is to drive industry out of the state, no matter what the loss of jobs. People are not important to the liberals in California, they don’t care how many families are displaced or driven into poverty by the loss of jobs. The only thing that is important is the environment.
Loony-bin environmentalism vs. California politician’s(D) greed?
This ought to be good. I’m going to pop open a drum of government-surplus popcorn that I’ve been saving for a special occasion.
re: “Well, isnt the effect the same? i.e., no oils gets produced? Which means theres no difference between allowing and not allowing.”
Exactly right. My point is that California is idiotic. They will probably legally allow it, but then they will oppose any site that is actually chosen because of some environmental reason. They want the money, but not badly enough for anyone to allow drilling to actually happen.
So, in the not-too-distant future when the current territory known as California is divided up between the People's Republic of China and the People's Republic of Aztlan, will the enviro-wackos be able to prevent such a lucrative resource from being exploited, in order to protect some obscure species of fish?
Doubt it. Methinks the enviros may be the first useful idiots put on freight cars headed to the camps.
Tell the folks in Sacramento that there’s a gold mine of tax dollars waiting to be spent. It’ll get done.
Why would they, the only ones restricted from pumping oil are Americans, just look at the Gulf of Mexico, everyone else can exploit it but us. The only thing to remember is that Americans are incapable of using natural resources wisely, unlike everyone else in the world. Remember Captain Planet and the Planeteers? They were led by a Russian! Led by someone from a country that dumps nuclear waste in their coastal water, not by a filthy eco criminal American!
It will happen in time—The Democrats and the left will become discredited and shown to be corrupt and inept—its just a question of time. Not for a while—maybe a decade—but the state will turn from blue to red.
New York's Governor Cuomo is trying to legalize casino gambling [only legal now on Indian reservations] while stonewalling on fracking natural gas. There you have it.
Liberals view growing the economy through energy production as morally inferior to supporting the government through gambling. It's really all you need to know about them.
re: “Liberals view growing the economy through energy production as morally inferior to supporting the government through gambling. It’s really all you need to know about them.”
The North Dakota Oil Boom probably wouldn’t had happened if it wasn’t for property rights.
Ironic how its oil that can give the welfare state a few more gasps before it finally keels over.
the Monterey is thought to hold over 400 billion barrels of oil, according to the U.S. Geological Survey
400 billion barrels @ $100 per barrel = $40 trillion.
Just sitting there...you could sway a lot of opinion with the promise of a piece of that.
Not all is ever recovered (produced).
It would likely span many decades, to ramp up and produce at all.
How about pushing to eliminate income and sales taxes, if oil revenue rolled in?