SACRAMENTO — After sitting through several recent marathon sessions in the Assembly, it was shocking to witness the powerful California environmental lobby lose its attempt to ban oil and gas hydraulic fracturing.
For this, Californians can be thankful.
That got me thinking. What if California’s powerful environmental lobby had been as powerful during the 1849 Gold Rush as it is today? Back then, they would have harassed gold pioneer James Marshall so much he would have quit. California never would have become the Golden State.
Hydrolic fracking for oil and gas has the potential to become the next Gold Rush — this time of black gold, Texas tea. But will the environmentalists stop it? Not yet — but maybe in the future.
A University of Southern California study, “Powering California: The Monterey Shale & California’s Economic Future,” looked at the development of the vast energy resource beneath the San Joaquin Valley known as the Monterey Shale. It found that hydraulic fracturing could create 512,000 to 2.8 million new jobs, personal income growth of $40.6 billion to $222.3… Read More