Friday, September 20, 2013

So Much For Monterey Shale -- Reader

NBCBayArea is reporting:
For the first time, California state law will directly oversee the controversial practice of fracking. Friday, Governor Jerry Brown signed the bill into law.
The law will regulate and track the practice of hydraulic fracturing, or fracking, for oil in California.
This follows NBC Bay Area’s investigation that first aired 19 months ago that uncovered widespread and unregulated fracking in California.
The bill from Sen. Fran Pavley, D-Calabasas, requires drillers to disclose the chemicals used and acquire permits before they use hydraulic fracturing. That process involves injecting water, sand and chemicals into deep rock formations to release oil or natural gas.
Drilling companies have been exploring whether fracking could help them access oil in California's Monterey Shale.
Pavley's bill passed the Legislature last week amid concerns from some conservation groups over last-minute changes affecting environmental reviews.
So, we'll see.

Be that as it may, regular readers know that both COP and CVX have been moving their employees to Houston over the past year (posted earlier at the MDW). The companies obviously knew this was coming down, and will now focus on the Bakken, the Eagle Ford, and the Permian.

California can wait. 

No comments:

Post a Comment