Sunday, February 10, 2013

California's Huge shale oil deposits just sitting there: How stupid is that?

A vast, untapped oil reserve in California is emerging as perhaps one of the state’s best opportunities to improve its still struggling economy, but exploration and production efforts face resistance from the powerful environmental lobby and Gov. Jerry Brown’s administration, which appears not fully sold on the potential. 
The roughly 1,700 square-mile Monterey Shale, from the state’s central coast to its San Joaquin Valley, holds roughly 60 percent of the country’s estimated shale oil reserves, potentially making California the country’s top oil producer and revving up its economy like a smaller shale-oil deposit did for North Dakota.

[...]
Geoffrey Styles, energy consultant, recently wrote in the online forum The Energy Collective that drilling the formation “could slash California's imports while adding billions of dollars a year to the local economy and to the shaky state budget, along with lots of good jobs.”
Read the whole story HERE.

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1 comment:

Anonymous said...

Makes a person wonder for who or what the "powerful" environmental lobby works? A foreign competitor?

It's great to conserve for the future, but let's try and have a future, thank you.