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Could Monterey Shale Save California?
Investor´s Business Daily, by Staff

Original Article

Posted By:HollowLeg, 2/5/2013 10:41:06 PM

Energy: The former Golden State is floating in debt, even as it sits on two-thirds of America´s shale oil reserves locked in a formation four times the size of the one that sparked North Dakota´s economic boom. North Dakota is now the largest oil producer in the country after Texas with a monthly oil output of about 20 million barrels. North Dakota´s oil boom accounts for 11% of U.S. oil production, and it is the impetus behind the state´s $3.8 billion surplus and an unemployment rate of just 3.2%, the lowest in the nation.

Comments:
Get the fracking oil! Duh, baby, duh?

      


Post Reply  

Reply 1 - Posted by: texascunning, 2/5/2013 10:44:53 PM     (No. 9160828)

The headline asks a question that implies the existence of common sense and intelligence in the state of California. While there may be a few remaining people possessing those qualities, the ones in charge haven´t displayed much evidence of having either.

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Reply 2 - Posted by: dragonlearner, 2/5/2013 11:01:23 PM     (No. 9160847)

Never underestimate a liberal who is trying to stay in power.

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Reply 3 - Posted by: dragonlearner, 2/5/2013 11:01:55 PM     (No. 9160848)

Make that a Marxist who is trying to stay in power.

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Reply 4 - Posted by: CleanhouseinDc, 2/5/2013 11:12:35 PM     (No. 9160856)

Tracking on the San Andreas. One good way to see California become underwater.


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Reply 5 - Posted by: CleanhouseinDc, 2/5/2013 11:13:05 PM     (No. 9160857)

Should be Fracking. Sorry


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Reply 6 - Posted by: dvc, 2/5/2013 11:17:56 PM     (No. 9160859)

The Eco-Nazis will never drill for oil in any fashion again in Kalifornia.

Perhaps someday, far in the future, a different people will utilize that oil, but never in this era.

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Reply 7 - Posted by: KTWO, 2/5/2013 11:36:07 PM     (No. 9160878)

As long as CA voters don´t change those they elect won´t change either. There is not signs of a coming change.

So any new money from shale oil will be added to total state spending and the chronic problems will continue.

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Reply 8 - Posted by: wsdiego, 2/6/2013 12:18:21 AM     (No. 9160910)

Liberals are too stupid in this state Cal!

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Reply 9 - Posted by: DW626, 2/6/2013 12:53:01 AM     (No. 9160925)

Atlas shrugged in California.

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Reply 10 - Posted by: harper, 2/6/2013 12:58:53 AM     (No. 9160930)

Twenty years from now Gov Moonbeam´s half donkey half unknown origin love child of mixed gender will give the state to it´s number one creditor, China.

12 months later it will be the top oil producer in N America and the richest bauble in the Chinese portfolio.

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Reply 11 - Posted by: Blackeagle, 2/6/2013 1:40:51 AM     (No. 9160939)

At some point in the future, the voting Hispanics will outnumber the left wingers. Then you can forget about all that Green religion. That oil will keep the welfare checks coming. It´ll be like the set up in Alaska - where everyone gets a state check.

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Reply 12 - Posted by: Kurto, 2/6/2013 1:49:55 AM     (No. 9160943)

California has been completely overrun by liberal bed wetters. The environmental cry babies are already working to shut this down. They do not want the precious earth drilled or fracked. It will be a miracle if they are unsuccessful.

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Reply 13 - Posted by: Spidey, 2/6/2013 3:25:18 AM     (No. 9160973)

It´s actually pretty amazing that there´s nobody greedier than left wing politicians trying to retain their grip on power by fleecing hard working Americans out of every dime they make but they´re sitting on a goldmine that could make them solvent,in spite of the billions wasted on welfare and government worker compensation.

It really illustrates how sick and irresponsible the left is.Who even knows how many millions the blow every year,paying off interest on the bonds they float. They were the first in line to borrow $3 billion for embryonic stem cell research which has produced zero results,while the medical profession in general has figured out a person´s own stem cells are the answer.

Embryonic stem cells was another fabricated myth by the left to enrich research institutions which is as big a racket as there is under the guise of working on medical breakthroughs.

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Reply 14 - Posted by: NotaBene, 2/6/2013 3:34:58 AM     (No. 9160975)

Drill, baby drill. And put Sarah Palin in charge.

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Reply 15 - Posted by: Trigger2, 2/6/2013 4:27:23 AM     (No. 9160991)

The eco-terrorists and demonrats refuse to use CA´s natural resources, so the answer is:

Nothing will save CA.

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Reply 16 - Posted by: oh-heck, 2/6/2013 5:32:49 AM     (No. 9161015)

I´ve been paying attention to how various states handle the opportunity. When they discovered that horizontal drilling and hydraulic fracturing would liberate oil in TX, the Rail Road Commission made sure an online system was in place to process the permits. Permitting time for those meeting requirements and following the rules is less than 7 working days. In NY, in 2008, they decided to rewrite the rules for environmental impact statements. CA will go the NY route.

5 years on, and ND has increased it oil production by 600,000 bpd to 800,000. TX has doubled its oil production from 1 million bpd to 2 million. CA is just thinking about the rules. NY hasn´t finished their rules and Environmental Manager hasn´t even decided whether he will allow drilling at all. My guess is that CA will follow the NY approach. What people don´t understand is that these developments aren´t being done by big oil. These independents have leased the mineral rights and raised capital to drill a specific number of wells. With each hundred wells completed, they get more proficient and discover that they can reduce the spacing, drill the same wells with fewer rigs, increase the initial flow rate, use gas from today´s wells to generate local electricity to frack tomorrow´s wells, etc.

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Reply 17 - Posted by: mickturn, 2/6/2013 10:31:54 AM     (No. 9161579)

There is NO ´Fracking´ Way California politicians will do the oil thing...and why they are going down!

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Reply 18 - Posted by: Hammock, 2/6/2013 7:10:28 PM     (No. 9162565)

You need a lot of water for fracking. Brown wants to divert the Sacramento River to the south for agriculture, but maybe the oil frackers will get it first.

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Below, you will find ...

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