What do you think will happen with California's "Monterey Shale" ?

[JimBaker488]

California has huge reservoirs offshore and even more in the Monterey shale, which stretches 200 miles south and southeast from San Francisco. The Department of Energy estimates that the Monterey shale contains about 15 billion barrels of oil, which is about double the estimated supply in the Bakken.

Occidental Petroleum, OXY -0.08% the big oil player in California, has recently purchased leases from the Interior Department to drill in the Monterey shale, but in April a federal judge blocked the breakthrough drilling process known as hydraulic fracturing, or "fracking," in the state. The judge ordered an environmental review of the drilling process that Texas, North Dakota and other states have safely regulated for years.

A large part of the explanation for the Texas boom and the California bust is the political culture. Despite their cars, California voters have elected politicians who consider fossil fuels to be "dirty energy."
The plaintiffs in the Monterey shale lawsuit were the local chapters of the Sierra Club and the Center for Biological Diversity. Rita Dalessio, chairwoman of the Ventana chapter of the Sierra Club, said, "We're very excited. We're thrilled" by the judge's ban, adding that "I'm sure the champagne is flowing in San Francisco." This attitude is prevalent among California's elite and wealthy.
So the oil remains locked in the ground, as one million Californians look for work, as its schools and roads deteriorate, and as it keeps raising taxes to balance the budget. What a tragedy.
Review & Outlook: A Tale of Two Oil States - WSJ.com

[echilibru]

Originally Posted by JimBaker488

So the oil remains locked in the ground, as one million Californians look for work, as its schools and roads deteriorate, and as it keeps raising taxes to balance the budget. What a tragedy.
Review & Outlook: A Tale of Two Oil States - WSJ.com

Needing to breathe in the Valleyand metro areas of California is also important. As is the water supply.

"Dirty energy" indeed.

Traffic Smog Tied to Serious Birth Defects | Welcome to the Program for Air Quality, Health, and Society

[bigdumbgod]

Originally Posted by echilibru

Needing to breathe in the Valley and metro areas of California is also important. As is the water supply.

"Dirty energy" indeed.

Traffic Smog Tied to Serious Birth Defects | Welcome to the Program for Air Quality, Health, and Society

But, but, ... what about all those jobs? And that poor lonely oil so cruelly left neglected?




Water's boring and overrated, anyway.

[checkup]

WSJ posted an editorial on this, which is getting a lot of views/comments: Review & Outlook: A Tale of Two Oil States - WSJ.com

Excerpt:

"More than 400,000 Texans are employed by the oil and gas industry (almost 10 times more than in California) and Mr. Smitherman says the average salary is $100,000 a year. The industry generates about $80 billion a year in economic activity, which exceeds the annual output of all goods and services in 13 individual states.

Now look to California, where oil output is down 21% since 2001, according to Energy Department data, even as the price of oil has soared and now trades in the neighborhood of $95 a barrel. (See the nearby chart.)"

[Highnlite 49987]

You Cheerleaders for the oil companies crack me up.
Don't you know why American oil prices are climbing?
Don't you know where all that oil is going?

America's top export now is refined oil. All that good patriotic oil you prattle about is leaving this country, it is going to China, just as the oil from the Keystone pipe will be refined in Texas and shipped to China.

The Oil companies are laughing at you cheerleaders while they make billions selling our patrimony overseas.

[bigdumbgod]

Originally Posted by JimBaker488

I just don't get it man ? Why is hating the oil companies more important to you than putting people to work ?

Does it matter to you what the job is, or just that it's a job?