America’s increase in oil and gas production, driven primarily by fracking of shale plays, is helping to lift the nation’s exports to an all-time high and reduce the trade deficit, according to figures released last week by the Department of Commerce.
The total trade gap fell to $40.6 billion in October, the latest month for which figures are available, down $2.4 billion from the prior month and down $2 billion from October of 2012. Continue reading
The California Department of Conservation on November 27 issued an invitation for public input on the scope and content of an Environmental Impact Report (EIR) for statewide well stimulation activities, at five meetings to be held in December and January.
The EIR is mandated by SB 4. Once in draft form, the EIR will be circulated for specific comments on its analysis and conclusions. The revised schedule of dates and other details about the scoping meetings follows. For more information, visit www.conservation.ca.gov.
The California Chamber of Commerce is preparing to appeal a ruling by the Sacramento Superior Court in favor of the state’s Air Resources Board’s cap-and-trade auction.
Judge Timothy M. Frawley on Nov. 12 denied requests filed by the Chamber and the Pacific Legal Foundation to block the auctions. They had argued that the money collected via the auctions amounted to an unlawful tax, and that the ARB’s auctions were not authorized in the language of the Global Warming Solutions Act of 2006, or AB 32. Continue reading
The California Department of Conservation (DOC) has sent out public notice of proposed regulations for the use of well stimulation in oil and gas production. The public notice begins the formal rulemaking process and marks the beginning of a 60-day public comment period. Continue reading
The Los Angeles Basin, which has been the focus of intense oil and gas development activity for more than a century, still has a robust future, according to participants in a day-long conference hosted by the University of Southern California.
The November 12 forum was sponsored by the USC Energy Institute, in cooperation with the U.S. Geological Survey.
A report distributed by the USGS estimates that 1.4 to 5.6 billion barrels of additional recoverable oil remain in 10 Los Angeles Basin fields analyzed by the agency’s staff, with a mean estimate of 3.2 billion barrels.
Chevron Corp. has announced plans to build a resort on the site of what was, almost a quarter century ago, one of California’s largest oil spills and cleanups.
The planned project, in the small community of Avila Beach south of San Luis Obispo, would set aside 60% of the property for open space and natural habitat, according to a report in the Los Angeles Times. Continue reading
