Thread: Occidental announces oil and gas find in Calif.

Occidental announces oil and gas find in Calif.

The Associated Press
2:51 p.m. July 22, 2009

LOS ANGELES — Occidental Petroleum Corp. said Tuesday it has made what could be the largest oil and natural gas discovery in California in 35 years.

The company, one of the largest U.S. independent oil and gas producers, said early indications suggest there are between 150 million and 250 million gross barrels of oil equivalent reserves in the defined area. The discovery was made in Kern County, about 130 miles north of Los Angeles.

The bulk of the discovery's producing zones are conventional oil- and gas-bearing formations. Approximately two-thirds of the discovery is believed to be natural gas.

Occidental said it has an 80 percent interest in the find. Chevron Corp., the nation's second-largest U.S. oil company, holds the remaining interest.
Occidental's shares fell 23 cents to $69.99 in after-hours trading.
Chevron's shares slipped 31 cents to $65.94.

http://www3.signonsandiego.com/stories/ ... dex=136460

Lets make sure that they use E-VERIFY so that Americans are doing all the work retrieving the fuel from the depths....These are OUR resources and Americans should very much benefit from this..

Speaking of E verify, I was just told that Jim Cramer has suggested Western Union shares should skyrocket in the near future due to the fact that the President wants the offense of hiring illegals to be a civil crime rather than whatever it is now.

Therefore, employers will have less reason to worry about hiring illegals which of course means large numbers coming over the border because of job opportunities and in turn, more using Western Union to send money home.

Did anyone else hear this on Cramer's program this afternoon?

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Don't forget this recent bit of news: http://tonto.eia.doe.gov/oog/info/twip/ ... print.html

Originally Posted by Richard

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http://www.businessweek.com/ap/financia ... JOJLG1.htm
There were many, I picked this one.

Since I'm mad at CA, I hope the Chinese put riggs about 1 mile off their coast!!!

Sorry CA friends here, I don't mean it really.
I just hate the Hollywood Moonbats!

I knew there was a lot of gas in California. Isn't a lot of it in Pelosi's district?

Originally Posted by WorriedAmerican

Since I'm mad at CA, I hope the Chinese put riggs about 1 mile off their coast!!!

Sorry CA friends here, I don't mean it really.
I just hate the Hollywood Moonbats![/b]

Sorry, but China has to stay at least 12 miles off the coast,
(until they foreclose on the U.S. because we can't pay them what we owe them)

StateMaster - Encyclopedia: Territorial waters

Territorial waters extend up to 12 nautical miles (22 km) from the mean low water mark adjacent to land,
or from internal waters, as per the 1982 United Nations . . .

www.statemaster.com/encyclopedia/Territorial-waters

RELATED

Calif. budget plan includes new offshore oil

July 22, 2009

LOS ANGELES — The deal to close California's $26 billion budget deficit included a plan to drill for offshore oil, drawing allegations that the fiscal crisis was used for a backroom deal following rejection of the idea by state regulators earlier this year.

Democrats agreed to Republican Gov. Arnold Schwarzenegger's request to expand drilling from an existing platform off Santa Barbara to generate a one-time $100 million advance royalty payment this fiscal year and an estimated $1.8 billion in royalties over 14 years . . .

http://www.alipac.us/ftopict-164038.html

Sorry, but China has to stay at least 12 miles off the coast,
(until they foreclose on the U.S. because we can't pay them what we owe them)

I grew up on the islands off of Maine.
Our island (Pound of Tea) was 1 miles off shore.
I used to swim it and rest on the buoys.
12 miles on the water is not that far away by sight.
I'm sure they could see the rigs.

We lived there from April to October because we had a heated camp.
There was a rain barrel on the roof for water. It was gravity fed.

Before we bought that island, we tented all summer on
Mosiers, Whaleboat, and a couple of times on Lanes.
We lived on the mainland the rest of the times.
They called my brother and I "The island kids..."