The fracking industry is “California Dreamin',” to borrow the song title of The Mamas & The Papas age old classic.
Yesterday, The Bakersfield Californian reported that another oil and gas industry giant is making its way to The Golden State: Hess Corporation. Hess has operations on six of the seven global continents and will be headed to California’s yet-to-be-fracked Monterey Shale basin, which contains some 15 billion barrels of proven recoverable shale oil, according to the Department of Energy’s Energy Information Administration.
Hess also has fracking operations in three shale basins: Texas’ Eagle Ford Shale and Permian Basin, as well as North Dakota’s Bakken Shale.
Other major oil and gas corporations on the scene and purchasing leases in the Monterey include Venoco, Occidental Petroleum, Frontier Energy Group, and Canadian Natural Resources Ltd.
Will the frackers move in and become a “California Nightmare?” Once the fracking for the “tough oil” begins, the answer is almost assuredly ”Yes, indeed” if history has taught us anything at all.
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Reposted with permission from FireDogLake.
