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California could be next oil boom state

CNN Money -- 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.

"Four hundred billion barrels, that doesn't escape anyone in this businesses," said Stephen Trammel, energy r

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Submitted Jan 14, 2013 By: bar1035

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LetemEatCake Champion Author Oklahoma City Posts:5,609 Points:1,207,330 Joined:Mar 2008	Message Posted: Jan 16, 2013 10:18:23 PM Ignore LetemEatCake Report Abuse Interesting article Bar1035...thanks for posting.
Bonanza Champion Author Boston Posts:12,099 Points:2,552,955 Joined:Jun 2004	Message Posted: Jan 15, 2013 5:06:21 AM Ignore Bonanza Report Abuse It will never happen
mrjames1818 Champion Author New Jersey Posts:1,555 Points:2,000,045 Joined:Mar 2004	Message Posted: Jan 15, 2013 4:48:43 AM Ignore mrjames1818 Report Abuse Terrific - more earthquakes - people in Nevada are going to have oceanfront property if they start this fracking in Calif
WR-INC Champion Author Twin Cities Posts:39,504 Points:3,626,285 Joined:Dec 2002	Message Posted: Jan 15, 2013 4:25:23 AM Ignore WR-INC Report Abuse If they defeat bringing it to us, they deserve their higher prices.
stratlinetime Champion Author Kalamazoo Posts:2,291 Points:565,785 Joined:Feb 2011	Message Posted: Jan 15, 2013 4:24:34 AM Ignore stratlinetime Report Abuse This is going to be a tough one
jci25946 Champion Author Tampa Posts:3,276 Points:941,740 Joined:Jan 2006	Message Posted: Jan 15, 2013 4:24:29 AM Ignore jci25946 Report Abuse CA treehuggers won't let that happen!!!!!
singlemom27 Champion Author Ventura Posts:3,123 Points:642,135 Joined:Apr 2011	Message Posted: Jan 15, 2013 4:22:07 AM Ignore singlemom27 Report Abuse Please go easy on it...the California coast needs to be preserved.
BANZAI56 Rookie Author Columbus Posts:85 Points:541,800 Joined:Jun 2005	Message Posted: Jan 15, 2013 4:14:34 AM Ignore BANZAI56 Report Abuse Not with all the tree huggers out there.
joko0 Champion Author New Jersey Posts:1,980 Points:567,565 Joined:Oct 2008	Message Posted: Jan 15, 2013 4:11:11 AM Ignore joko0 Report Abuse Good stuff
HA4CNN Champion Author Toronto Posts:5,634 Points:1,545,440 Joined:Dec 2006	Message Posted: Jan 15, 2013 4:09:36 AM Ignore HA4CNN Report Abuse If the oil is really there the oil companies will extract it.
Bruno44 Champion Author Texas Posts:7,085 Points:1,770,145 Joined:Sep 2007	Message Posted: Jan 15, 2013 4:08:13 AM Ignore Bruno44 Report Abuse Good points by RENEGADEGAS.
RENEGADEGAS Champion Author Missouri Posts:14,924 Points:1,593,175 Joined:Jul 2008	Message Posted: Jan 15, 2013 4:05:01 AM Ignore RENEGADEGAS Report Abuse This will never happen in California. To many greenie weenies, liberals and Governor Brown. Its no wonder why record numbers of businesses are packing up and moving into Nevada and New Mexico as well as taxpaying citizens. California is on a bad path right now.
TIGERPAW46 Champion Author Florida Posts:7,136 Points:1,357,630 Joined:Mar 2004	Message Posted: Jan 15, 2013 4:04:54 AM Ignore TIGERPAW46 Report Abuse Good maybe they Can gain enough tax from the industry to get out of debt. No? That's right they will probably have to exempt them from taxes to increase alleged jobs & give them state & federal grants to open business in Ca. [Edited by: TIGERPAW46 at 1/15/2013 4:07:23 AM EST]
lgwhitlock Champion Author Chico Posts:7,395 Points:1,687,445 Joined:Jun 2008	Message Posted: Jan 15, 2013 4:03:30 AM Ignore lgwhitlock Report Abuse We certainly need the infusion of cash to jump start the state to better times after the last decade...
FrankTA2 Champion Author New York Posts:4,303 Points:1,097,260 Joined:Jun 2007	Message Posted: Jan 15, 2013 4:02:43 AM Ignore FrankTA2 Report Abuse Excellent!!!
abacus44 Champion Author Toms River Posts:3,490 Points:750,440 Joined:Jan 2011	Message Posted: Jan 15, 2013 4:00:31 AM Ignore abacus44 Report Abuse Not any time soon!
VB_Richard Champion Author Virginia Beach Posts:1,668 Points:353,770 Joined:Dec 2011	Message Posted: Jan 15, 2013 3:59:35 AM Ignore VB_Richard Report Abuse California could use the extra funding.
jcurley Champion Author California Posts:7,908 Points:1,776,970 Joined:Dec 2007	Message Posted: Jan 15, 2013 3:57:28 AM Ignore jcurley Report Abuse @prius22 - you are wrong. CA is the ONLY state that does not have an oil/gas extraction tax (Alaska is 20%). This is another reason why the state has a huge deficit - republicon giveaways to their corporate masters.
chuckwthompson Champion Author Charlotte Posts:3,765 Points:579,135 Joined:Sep 2011	Message Posted: Jan 15, 2013 3:56:23 AM Ignore chuckwthompson Report Abuse It doesn't matter how much oil we have if you continue to export OUR refined gasoline to other countries!
jcdakota Champion Author Baltimore Posts:1,347 Points:361,345 Joined:Nov 2010	Message Posted: Jan 15, 2013 3:52:45 AM Ignore jcdakota Report Abuse Environmentalists field day- try to touch that oil, even though the freeways are full of gas guzzling cars.
prius22 Champion Author Twin Cities Posts:2,224 Points:390,260 Joined:Apr 2012	Message Posted: Jan 15, 2013 3:51:46 AM Ignore prius22 Report Abuse They will pay high taxes to do it to.
afghaned Champion Author Hamilton Posts:11,827 Points:1,288,085 Joined:May 2004	Message Posted: Jan 15, 2013 3:42:30 AM Ignore afghaned Report Abuse We've gone from oil drought to oil flood yet world prices have increased as if e are running dry.
SteveMartin Champion Author New Orleans Posts:4,438 Points:887,365 Joined:May 2008	Message Posted: Jan 15, 2013 3:36:19 AM Ignore SteveMartin Report Abuse Those pin head liberals will stop this.
JagXKR Champion Author British Columbia Posts:3,169 Points:1,093,330 Joined:Dec 2009	Message Posted: Jan 15, 2013 3:34:33 AM Ignore JagXKR Report Abuse But the eco terrorists said we would run out of oil by 2020 or 2030 or maybe it was 2050 or perhaps ......
Blossomize Sophomore Author Oregon Posts:161 Points:21,660 Joined:Nov 2012	Message Posted: Jan 15, 2013 3:33:24 AM Ignore Blossomize Report Abuse OK...fun to drive, and necessary. But, sometimes we just need to walk. Think of the future of your grandkids. We are using the earth! I walk.
heydano67 Champion Author California Posts:1,676 Points:359,485 Joined:Feb 2012	Message Posted: Jan 15, 2013 3:31:41 AM Ignore heydano67 Report Abuse Has fracking the Bakken or Eagle Ford deposits dropped oil prices
wally52 Champion Author Little Rock Posts:27,483 Points:816,460 Joined:Jan 2011	Message Posted: Jan 15, 2013 3:29:19 AM Ignore wally52 Report Abuse If we are # 1 producer, then why is gas prices so high.
Double_Golden Champion Author San Francisco Posts:2,575 Points:607,560 Joined:Aug 2011	Message Posted: Jan 15, 2013 3:28:51 AM Ignore Double_Golden Report Abuse not going to happen, no chance it will go through the EPA...
sjhman Veteran Author Atlanta Posts:410 Points:278,420 Joined:Sep 2008	Message Posted: Jan 15, 2013 3:28:16 AM Ignore sjhman Report Abuse Makes sense
mightyace Champion Author Tennessee Posts:4,274 Points:846,780 Joined:Jan 2011	Message Posted: Jan 15, 2013 3:28:09 AM Ignore mightyace Report Abuse California the next oil boom state, when pigs fly!
badharley Champion Author Tampa Posts:1,035 Points:742,260 Joined:Jul 2010	Message Posted: Jan 15, 2013 3:24:40 AM Ignore badharley Report Abuse If you want lower prices start drilling.
Retowered Champion Author Colorado Posts:8,587 Points:2,687,365 Joined:May 2004	Message Posted: Jan 15, 2013 3:23:10 AM Ignore Retowered Report Abuse I am afraid California won't let it happen.
HawaiianGuy Champion Author Idaho Posts:9,538 Points:3,081,650 Joined:May 2003	Message Posted: Jan 15, 2013 3:17:41 AM Ignore HawaiianGuy Report Abuse Are you kidding? California, land of fruits and nuts? There is NO way the EnviroNuts are going to let this happen. None. Nada. Zip.
gaspumpin Champion Author Indiana Posts:1,677 Points:390,370 Joined:Apr 2012	Message Posted: Jan 15, 2013 3:12:35 AM Ignore gaspumpin Report Abuse California will go bankrupt before they allow this. They need to get their heads out of the sand!!
fcdriver Champion Author Tennessee Posts:7,258 Points:1,475,780 Joined:Sep 2008	Message Posted: Jan 15, 2013 3:08:57 AM Ignore fcdriver Report Abuse could be interesting
findcheap Champion Author Los Angeles Posts:9,607 Points:2,011,825 Joined:Apr 2007	Message Posted: Jan 15, 2013 3:07:26 AM Ignore findcheap Report Abuse this is a clean state. plus, it takes little or no oil extraction taxes, unlike other states. leave it clean!
goldseeker Champion Author West Virginia Posts:19,559 Points:2,720,765 Joined:Sep 2005	Message Posted: Jan 15, 2013 3:05:30 AM Ignore goldseeker Report Abuse Let the rape begin.
The_DR Champion Author New Jersey Posts:2,795 Points:587,015 Joined:Aug 2011	Message Posted: Jan 15, 2013 3:04:23 AM Ignore The_DR Report Abuse Which way to the refinery dude?
Ahking Champion Author Orange County Posts:3,512 Points:604,425 Joined:May 2011	Message Posted: Jan 15, 2013 2:55:33 AM Ignore Ahking Report Abuse it's about time.
ricebike Champion Author New Jersey Posts:10,043 Points:1,857,670 Joined:Oct 2005	Message Posted: Jan 15, 2013 2:52:55 AM Ignore ricebike Report Abuse taxes will still be too high over there...
RENEGADEGAS Champion Author Missouri Posts:14,924 Points:1,593,175 Joined:Jul 2008	Message Posted: Jan 15, 2013 2:51:04 AM Ignore RENEGADEGAS Report Abuse The greenie weenies and the governor will never allow it.
erikk77 Veteran Author Washington Posts:308 Points:1,157,580 Joined:Aug 2003	Message Posted: Jan 15, 2013 2:50:02 AM Ignore erikk77 Report Abuse vulcan96, "What have we got here, a F#@#ing comedian!"
iFueler Champion Author Durham Posts:64,433 Points:180,475 Joined:Nov 2012	Message Posted: Jan 15, 2013 2:49:32 AM Ignore iFueler Report Abuse with new technology, RECOVERABLE oil is being found in lots of places.............
Happytalk Champion Author Pennsylvania Posts:2,145 Points:579,815 Joined:May 2010	Message Posted: Jan 15, 2013 2:48:07 AM Ignore Happytalk Report Abuse good luck
bobdec Champion Author Miami Posts:8,974 Points:1,771,770 Joined:May 2008	Message Posted: Jan 15, 2013 2:45:01 AM Ignore bobdec Report Abuse They need it
vulcan96 Champion Author Ohio Posts:26,931 Points:3,105,625 Joined:Aug 2004	Message Posted: Jan 15, 2013 2:45:01 AM Ignore vulcan96 Report Abuse maby fracking there will cause them to slide into the ocean...
SkooterG Champion Author Phoenix Posts:1,359 Points:329,335 Joined:May 2012	Message Posted: Jan 15, 2013 2:44:26 AM Ignore SkooterG Report Abuse Good luck in California.
nurdco Champion Author Colorado Springs Posts:9,244 Points:1,696,360 Joined:Apr 2008	Message Posted: Jan 15, 2013 2:40:03 AM Ignore nurdco Report Abuse Environmental Tax is coming
Chargette Rookie Author California Posts:22 Points:49,440 Joined:May 2004	Message Posted: Jan 15, 2013 2:37:41 AM Ignore Chargette Report Abuse The oil companies are brazen hussies. I wonder what kinds of seismic activity might be triggered by changing the underground pressure in that part of the state, which the San Andreas fault runs under. From what the article said about the presence of folded shale, it sounds like there are areas that can be drilled with traditional methods. I think that would be pursued before trying to tackle the environmentalists of California with fracking. If the third method developed takes hold (using acids to break underground rock), fracking may disappear.
BEngr Champion Author Illinois Posts:6,722 Points:1,582,565 Joined:May 2008	Message Posted: Jan 15, 2013 2:35:41 AM Ignore BEngr Report Abuse It will never happen, California is a state where the environmental groups are in control. They would rather have people pay higher utility bills to use more wind and solar power to produce electricity. Oh did I forget to mention it costs more per kilowatt to produce electricity from these energy sources.