Perhaps one of the more overlooked aspects of the International Energy Agency's (IEA) recent World Energy Outlook 2012 and its detailed analysis of the US hydrocarbon potential, is the dilemma facing California.
California has committed to renewable energy, and aims to get a third of its electricity from renewable sources by 2020; and it is this 'green' stance which could now threaten the development of a giant shale oil field.
According to the IEA report the Monterrey Formation in Southern California has 15.4 billion barrels of recoverable crude oil, more than four times the volume available from the Bakken formation in North Dakota.
The IEA wrote in their report: "The idea that fossil fuels will fade from the scene seems more preposterous every day. Instead of getting left behind in this new era, the Golden State could - and should - lead the way."
Related Article: How Big a Role Will Shale Gas Play in America's Energy Future?
Business Insider claimed that the San Diego Tribune published an editorial asking California Governor Jerry Brown to help push for the development of the giant shale formation.
An auction is planned for the 12th of December, in which more than 17,000 acres will be available for shale companies to bid on.
By. Joao Peixe of Oilprice.com
Joao is a writer for Oilprice.com More
Comments
The residential market has condensing boilers and high efficiency condensing water heaters. The big consumers of natural gas have available to them the technology of Condensing Flue Gas Heat Recovery, but are slow to adapt. Our governments and utilities are focused on electricity, so industry follows - changing light bulbs.
Every natural gas appliance has a chimney, and it is not visible, but there is a LOT of HOT exhaust being blown into the atmosphere. Global Warming?
Recover the heat out of this exhaust, and use it back in the building or facility where it was combusted, and vent COOL exhaust instead.
Increased natural gas energy efficiency = Reduced utility bills = Profit
Increased natural gas energy efficiency = Reduced CO2 emissions
Increased natural gas energy efficiency = Water conservation,
and this clean-distilled water created during this heat recovery process is very usable.
What natural gas is not wasted today, will be there to be used another day.
"Alternate Energy" is good and needs to be developed but it must compete fairly in the open market without being subsidized by any taxpayer's dollars. The actions by our government agencies to limit and prohibit development of any industry is intentional socialism designed to put control of America into the hands of the "Elite" few.
Don't we need more refineries, though?
And people think we need "allternatives"?
At one time all this carbon was in the atmosphere and what happened? It got stored as fuel for now when we need it.
God ain't dumb guys. He provides!!! Abundantly!!!
Many of Kalifornia's politicians hold interest's in the oil lands of Kalifornia.
Ask Babs Boxer and Feinstein about their holdings.
It will be just a matter of timing for the politicians to push this through.