Huge Natural Gas Discovery In the Chinese Sichuan Basin -- Could Meet Chinese Demand For Two Years; California Drought, Meanwhile, Might Stymie Fracking -- CNBC

PennEnergy is reporting:

Chinese oil and gas company PetroChina recently uncovered one of the biggest gas discoveries in more than a decade in the Sichuan basin, which is significant for a nation trying to wean off natural gas imports, Reuters reported. Parent company China National Petroleum Corporation said the latest find, which includes 308.2 billion cubic meters of recoverable gas, is "set to provide abundant gas resources to the national gas grids," according to CNPC in a report.

Meanwhile, the California drought might stymie fracking:

California fracking opponents aiming to stop development of massive state oil reserves are focusing their drive this year around the state's record-breaking drought, arguing oil production would suck sorely needed water from farms and homes.

California Rep. Marc Levine told Reuters last week that he will co-author an upcoming bill that would place a moratorium on hydraulic fracturing in the state, and said he will use the drought, which could be the state's worst ever, to bolster his position.

"The drought is a game changer on fracking," Levine said. "We have to decide what our most precious commodity is—water or oil? This is the year to make the case that it's water."

I've talked about this on more than one occasion. I think California is going to be a very tough state to frack.

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Last night, in bed, while reviewing the blog, I was quite disappointed. I hadn't posted a video in quite some time. Since the iPad won't multi-task -- at least not my version -- I need to have at least one video on each page. So, I have to catch up.

I recently posted another video of this song, but never too often:

It Never Rains In California, Albert Hammond