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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: John Carragher who wrote (44592)	6/3/2005 5:42:39 PM
From: Elroy Jetson	Read Replies (2) \| Respond to of 206321

See if you can find more on this. I'm looking. After watching the interview on the local news last night, I've heard some very things from people at ChevronTexaco which make the Bush admin sound very, very corrupt - not that this is such a big surprise, but the boldness of their corruption is really surprising, but perhaps not in light of the true value of the oil in this tract. This tract probably holds far more oil than the Alaska North Slope did. Very high quality oil an hour offshore California - and Bush wants to take it back from ChevronTexaco which bought it 22 years ago. waterconserve.info Although state and federal moratoriums prohibit new offshore oil leases in California, those bans do not apply to 36 undeveloped leases issued from 1968 to 1984. They lie more than three miles off the coasts of Ventura, Santa Barbara and San Luis Obispo counties. "Californians do not want these leases developed, and the oil companies that hold the leases want out of a protracted legal battle," Boxer wrote Bush. Oil companies holding the undeveloped California leases have filed a breach of contract lawsuit against the federal government because of procedural hurdles that have prevented drilling from proceeding. It was a similar lawsuit that led to settling the drilling dispute off the Florida coast. The administration has yet to take a position on whether the government should buy back the California leases. *old news* At the White House, deputy press secretary Scott McClellan insisted there is no inconsistency in the president's policies toward the leases in Florida and California. "The president believes it's important to consult with local and state communities to address local concerns, whether in Florida or in California," McClellan said. Congressional sources said that the purchase of the California leases could be far costlier--in excess of $1 billion. .