"Oil companies eye California's offshore leases" (2006) - Could Have Been California

[TomCADem]

Here is a story that followed the passage of legislation in 2006 sponsored in the House by Bobby Jindal of all people that talked about how oil companies were eyeing offshore oil leases off of California. Thankfully, Californian politicians across the political spectrum were opposed to lifting the morotorium. If California had local politicians like Bobby Jindal, where would we be? However, with the Citizens United case, nothing prevents oil companies from buying California politicians in the years to come.

http://articles.sfgate.com/2006-08-03/business/17309027_1_drilling-oil-and-gas-resources-oil-industry

The Senate's vote this week to open more of the Gulf of Mexico to oil exploration raises the question of whether California's moratorium on offshore drilling could someday end. And it casts a renewed spotlight on the energy reserves lying just beyond the state's shore.

The federal government estimates that California's coastal waters could hold 10.13 billion barrels of oil. That's almost the same amount believed to lie beneath the Arctic National Wildlife Refuge, which the Bush administration has pushed hard to open to exploration.

It's also enough to supply all the oil Americans consume for about 17 months. It would feed California's total oil appetite for 15 years.

But whether the nation is desperate enough for oil supplies to overcome the state's deep-seated aversion to offshore drilling remains to be seen.

The Senate bill must be reconciled with a more sweeping House measure (note: sponsored by Bobby Jindal) that would allow more extensive drilling.

Many California officials worry the final version could cut into the federal moratorium on new drilling along much of the nation's coastline. Although support for the moratorium remains strong among the state's politicians -- from Republican Gov. Arnold Schwarzenegger to Democratic Sens. Barbara Boxer and Dianne Feinstein -- future officials may feel differently, particularly if oil prices continue to rise.