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Oil companies such as Occidental Petroleum (OXY), Venoco (VQ) and Hess (HES) are looking to...

Oil companies such as Occidental Petroleum (OXY), Venoco (VQ) and Hess (HES) are looking to exploit California's Monterey Shale, whose untapped deposits are estimated at 15.4B barrels, or over four times the reserves in the Bakken Shale. However, the industry is facing stiff opposition from the state's environmental lobby, which is concerned about the substances used in fracking and the potential for setting off earthquakes.
Comments (7)
  • User 353732
    , contributor
    Comments (4998) | Send Message
     
    Energy production and exports are the basis of Canada's global competitiveness and domestic jobs and income growth as well as the real wealth creation that maintains the Canadian dollar. They also give Canada a geo strategic value far in excess of its small population and economy.
    It is surely in Canada's economic and political interests to produce this tremendous energy resource and further strengthen its links to Asia via exports. Despite the propaganda, disinformation and intimidation by environmental special interests these resources and the associated infrastructure will indeed be developed.
    4 Feb 2013, 05:23 AM Reply Like
  • davidingeorgia
    , contributor
    Comments (2713) | Send Message
     
    "However, the industry is facing stiff opposition from the state's environmental lobby, which is determined to stop any project that has the possibility of helping California's economy and providing good-paying jobs."

     

    There. Fixed it for you.
    4 Feb 2013, 06:17 AM Reply Like
  • AZ Desert Trader
    , contributor
    Comments (249) | Send Message
     
    David do you have fracking in Georgia? If the tables were turned and these companies wanted to do this in your back yard what would you say then?
    4 Feb 2013, 07:35 AM Reply Like
  • DaleW
    , contributor
    Comments (68) | Send Message
     
    If that crap was true, Texas would have fallen into the Gulf 20 years ago. We invented fracking around San Antonio, a zone called the Austin Chaulk. NO MAJOR EARTHQUAKE HERE!
    4 Feb 2013, 12:12 PM Reply Like
  • Bret Jensen
    , contributor
    Comments (11135) | Send Message
     
    And we wonder why the state is going broke and top state income tax rates now stand at 13%. Utah, Nevada, and Arizona are laughing all the way to the bank and more California business owners and millionaires encamp for greener pastures.
    4 Feb 2013, 08:27 AM Reply Like
  • Marine85
    , contributor
    Comments (267) | Send Message
     
    USGA says it is another lie that fracturing causes earthquakes. IT DOES NOT. Anything coming from enviro-nazis are lies.
    4 Mar 2013, 11:23 AM Reply Like
  • Marine85
    , contributor
    Comments (267) | Send Message
     
    Does Fracking Cause Earthquakes? http://bit.ly/ZhI29Z … via @CNBC
    4 Mar 2013, 11:27 AM Reply Like
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