As part of a total energy strategy, hydraulic oil fracturing from shale could be financial profitable for the State (creating greater revenue and jobs). Is the process safe, and will regulation be adequate?
Mercury News Central Coast/Associated Press/Garace Burke, 12/13/12. "Feds auction prime California land in Monterey and other counties for oil development."
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| The fracking landscape is a little less scenic |
"The federal government auctioned off nearly 18,000 acres of oil leases on prime public lands on Wednesday in Central California, home to prized vineyards, several endangered species and one of the largest deposits of shale oil in the country.
.... The U.S. Energy Information Administration estimated last year that California's Monterey Shale formation contains more than 15 billion barrels of "technically recoverable shale oil," more than the amount contained in the Bakken oil fields of Montana and North Dakota, where oil-producing rock is sandwiched between layers of shale about two miles under the ground.
Industry officials say hydraulic fracturing is one of many techniques used since the 1940s, and concerns are overblown, especially since companies are still determining whether it is economically viable to develop the Monterey Shale.
.... The Center for Biological Diversity filed suit against BLM over a smaller lease auction held in roughly the same region last year, claiming the bureau had failed to properly review the environmental risks associated with increased oil and gas development. "Fracking is not only intensifying oil and gas development in areas that were in production before, but it's opening up some beautiful, wild places where you previously didn't have drilling," said attorney Kassie Siegel, adding that the group ultimately may file another lawsuit over Wednesday's auction." Read article.
Related - San Luis Obispo New Times, 8/31/12, ".... The report said the Monterey shale formation
contained 15.5 billion barrels of oil, accounting for 64 percent of the
total shale oil resources in the United States. .... California might be the center of a new oil
boom. " Wikipedia, Hydraulic Fracturing. Forbes, 10/23/12. "Gas fracking spurs oil rush."
Posted by Kathy Meeh
8 comments:
Is it about time the courts go after the CBD for filing frivolous lawsuits?
Commies in cali hate any company that makes a profit and creates good paying jobs.
It's all a Communist plot
"Commies in cali hate any company that makes a profit and creates good paying jobs." Anonymous 8:46 AM
So how does it work: Low company profits, low benefits, low paying jobs, low incentive, no reason to stay at the company, no company. So, what "commie" would want that end result?
Now if you're talking about NIMBY strategy, we have an observable 30 year example in Pacifica: both anti-development, and anti-profit. The net affect is a sectioned city (no downtown), no business parks, an emaciated business community, limited services, city land reduction (given over to open space), an underfunded city. The social affects are a divided community, scrambling across-the-board to make up for city inadequacies. And the city future provides more low expectations.
Going on 40 years and no end in sight.
can we get some fracking going in the Quarry?
The taxpayers in Pacifica have been getting fracked for the last 30 plus years
i want roller-derby in the quarry. perfect for pacifica, so perfect
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