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View Full Version : New oil find in California,"No Drilling Allowed !"



megimoo
09-23-2009, 10:36 PM
"Now they Will Need a New Spotted Critter to Cover Their Tree Hugging Asses !"

A few years ago, Occidental Petroleum Corp. executive Stephen I. Chazen sounded like a cryptologist out of a Dan Brown novel as he told investors that an oil bonanza awaited any outfit that could "crack the code" of California's seismically fractured underground.

Occidental's engineers may have done it.

The Westwood company revealed in July that it had found the equivalent of 150 million to 250 million barrels of oil and natural gas in an undisclosed part of Kern County using techniques that the oil company's executives would rather not talk about. It was California's biggest find in 35 years.

Some experts say it could herald a period of new exploration in California and the U.S.

"Certainly this kind of success will send other people back to California to rethink the geology and rethink the theories of the area," said Daniel Yergin, chairman of IHS Cambridge Energy Research Associates and author of the Pulitzer Prize-winning history of the oil industry "The Prize: The Epic Quest for Oil, Money and Power."

http://www.latimes.com/business/la-fi-cal-oil24-2009sep24,0,3884900.story

FlaGator
09-23-2009, 10:51 PM
California will enact so many new industry regulations that the only way to get at the oil will be by drilling sideways from Nevada.