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NATIONAL
October 21, 2009 | Jim Tankersley and Josh Meyer
Interior Secretary Ken Salazar said today that he has asked the department's inspector general to investigate a controversial set of contract amendments, finalized in the waning days of the Bush administration, that locked in industry-favorable royalty rates and environmental regulations for a series of oil shale leases on federal land in Colorado and Utah. Interior officials previously told The Times' Washington Bureau they were reviewing the highly unusual amendments, which could be worth billions to shale leaseholders, including Royal Dutch Shell, which holds three of the six leases.
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OPINION
April 25, 2014
Re “ Does fracking cause quakes? ,” Editorial, April 20 Thanks for your clearly voiced concerns about fracking. Certainly the geology of California, which is significantly different from other oil shale areas, implies both a risk of major seismic events and increased difficulty in containing the toxic wastes generated. The other potential problems with fracking are almost too numerous to mention in a short letter, including release of more greenhouse gases and local pollution of surface, ground and ocean water, as well as air pollution and transportation issues.
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BUSINESS
June 1, 2011 | By Steve Gelsi
Marathon Oil Corp. said Wednesday that it planned to buy acreage in the natural gas-rich Eagle Ford shale region of Texas in a deal valued at $3.5 billion, accelerating efforts to build up its exploration and production portfolio as the Houston company moves to spin off its refining unit. Marathon will buy properties held by Hilcorp Resources Holdings, a partnership between affiliates of Hilcorp Energy Co. and Kohlberg Kravis Roberts & Co. KKR said its stake in the deal was worth about $1.13 billion.
OPINION
April 12, 2014
Re "A crude energy puzzle," April 7 Regarding all the happy talk about the oil trove trapped in the Monterey Shale formation, perhaps there really are billions of barrels in recoverable fossil fuel underneath California. But if we burn the stuff, where exactly should we put the carbon dioxide? Last I heard, the atmospheric concentration of carbon dioxide was greater than 400 parts per million. This is a big science experiment because that is an increase from 270 parts per million before the widespread burning of fossil fuels began.
BUSINESS
July 23, 2008 | From Times Wire Services
The Bush administration proposed charging energy companies wanting to squeeze oil out of vast shale deposits in the West lower royalties than they pay for drilling on other federal lands, including in the Gulf of Mexico and Alaska. In draft rules, the Interior Department recommended a range of royalty rates for the extraction of oil from shale on 2 million acres of public property in Colorado, Utah and Wyoming. All would be less -- at least for a time -- than the 12.5% to 18.8% the government currently collects from companies producing oil on and offshore.
NATIONAL
February 15, 2014 | By Molly Hennessy-Fiske
CARRIZO SPRINGS, Texas - Just a few years ago this was a sleepy town of 5,600, and people eked out a living from the land. They farmed, worked ranches and leased their property to hunters to make a few dollars. Now, an oil and gas boom is transforming the economy of south Texas, turning Carrizo Springs into a busy city of at least 40,000. Texas oil companies, tapping a vast formation called the Eagle Ford shale, have nearly doubled oil production over the last two years and by next year are expected to produce 4 million barrels a day. That would catapult Texas ahead of Iran, Iraq and the United Arab Emirates to become the fifth-biggest oil producer in the world.
ENTERTAINMENT
January 15, 1986 | DONNA PERLMUTTER
Maybe there's a clue to be found in Mary Jane Eisenberg's hair. It's long now. But when her group Shale was busy exploring what the choreographer/dancer called "hyper-realism," she kept it a half-inch short, a sort of preppy punk style that went along with her wild and wacky adventures in post-modern dance.
CALIFORNIA | LOCAL
March 14, 2012 | By Michael J. Mishak, Los Angeles Times
Energy companies across California are injecting a mysterious mix of chemicals into the ground to tap oil deposits while frustrating attempts to regulate the controversial process, known as hydraulic fracturing. The procedure has drawn the greatest attention in the Rocky Mountain West and Northeast, where states have debated moratoriums to develop regulations after toxic chemicals were found in nearby drinking water. But a quieter battle is being waged in the Golden State, which could be a candidate for increased "fracking" because of its unique geology.
BUSINESS
November 23, 2011
Private equity firm KKR & Co. LP and three partners say they have agreed to buy the privately held oil and gas company Samson Investment Co. for $7.2 billion In the deal announced Wednesday, KKR and its partners will get access to oil and gas assets in booming shale regions in the U.S., including shale formations that contain large amounts of oil and other liquid hydrocarbons. Samson's wells in the deep water Gulf of Mexico and along the Gulf Coast are not included in the deal.
OPINION
January 3, 2009
Re "Water, oil don't mix in Rockies," Dec. 28 Metaphorically speaking, oil doesn't mix with anything except oil companies, oil money and oil dependence. It already has been established that a lack of potable water is one of the biggest threats we face on this planet. So who stands to gain by using this resource to extract an outdated source of energy that destroys our ecosystem? I think we know. Shell Oil Communications and Sustainability Manager Tracy C. Boyd states, with cavalier nonchalance, that "as long as we continue to be a nation hooked on liquid fuel, we need to look at anything we can do to tap the resources of energy in this country."
CALIFORNIA | LOCAL
April 6, 2014 | By Julie Cart
SHAFTER, Calif. - A bustling city is sprouting on five acres here, carved out of a vast almond grove. Tanker trucks and heavy equipment come and go, a row of office trailers runs the length of the site and an imposing 150-foot drilling rig illuminated by football-field-like lights rises over the trees. It's all been hustled into service to solve a tantalizing riddle: how to tap into the largest oil shale reservoir in the United States. Across the southern San Joaquin Valley, oil exploration sites have popped up in agricultural fields and on government land, driven by the hope that technological advances in oil extraction - primarily hydraulic fracturing and acidization - can help provide access to deep and lucrative oil reserves.
NATIONAL
February 15, 2014 | By Molly Hennessy-Fiske
CARRIZO SPRINGS, Texas - Just a few years ago this was a sleepy town of 5,600, and people eked out a living from the land. They farmed, worked ranches and leased their property to hunters to make a few dollars. Now, an oil and gas boom is transforming the economy of south Texas, turning Carrizo Springs into a busy city of at least 40,000. Texas oil companies, tapping a vast formation called the Eagle Ford shale, have nearly doubled oil production over the last two years and by next year are expected to produce 4 million barrels a day. That would catapult Texas ahead of Iran, Iraq and the United Arab Emirates to become the fifth-biggest oil producer in the world.
WORLD
August 30, 2013 | By Kate Linthicum
BUENOS AIRES - When the Argentine oil company YPF announced two years ago that it had discovered some of the world's largest reserves of shale gas and oil on a barren plain in Patagonia, many began looking to the energy industry as the answer to Argentina's financial woes. The country's growing dependence on foreign fuel has been a main driver of economic instability. Oil and gas imports have drained currency reserves, and large energy subsidies have contributed to a soaring inflation rate.
BUSINESS
April 8, 2013 | By Andrew Khouri
General Electric Co. has agreed to acquire Lufkin Industries Inc. for more than $3 billion as the mega-firm looks to grow its expanding oil and gas business. The $88.50-a-share offer from GE represents a 38.4% premium over Lufkin's Friday $63.93 closing price. The deal for Lufkin, which employs 4,500 people in more than 40 countries, expands GE's artificial-lift capabilities to a larger variety of well types. GE Oil & Gas President Daniel C. Heintzelman said the acquisition beefs up his company's offerings in a segment that “is at the heart of critical changes” that are transforming the oil and gas industry, allowing producers to maximize the potential of wells.
BUSINESS
March 31, 2013 | By Shan Li
The small oil town of Taft was built on petroleum -- and is now hoping for a second boom from the Monterey Shale. In a story on Sunday's front page, The Times wrote about the shale that runs miles underground through Southern and Central California. Oil companies are already drilling exploratory wells. Oil trapped in deep rock deposits in the Monterey is estimated at 15 billion barrels. That's four times the amount of oil in North Dakota's Bakken Shale, which has fueled a boom that's driven that state's unemployment rate to 3.3%, the nation's lowest.
BUSINESS
March 30, 2013 | By Shan Li, Los Angeles Times
TAFT, Calif. - This two-stoplight town was built on petroleum, and residents here never miss a chance to pay tribute. A 38-foot monument to wildcatters stands downtown; locals brag it's the tallest bronze sculpture west of the Mississippi. Every five years, the city throws an "Oildorado" festival. There's even a beauty pageant in which young women dubbed "the maids of petroleum" vie to be crowned queen. It's all an homage to the bustling days when Taft boasted two giant oil fields and Standard Oil Co. of California was headquartered there.
OPINION
April 25, 2014
Re “ Does fracking cause quakes? ,” Editorial, April 20 Thanks for your clearly voiced concerns about fracking. Certainly the geology of California, which is significantly different from other oil shale areas, implies both a risk of major seismic events and increased difficulty in containing the toxic wastes generated. The other potential problems with fracking are almost too numerous to mention in a short letter, including release of more greenhouse gases and local pollution of surface, ground and ocean water, as well as air pollution and transportation issues.
NATIONAL
March 14, 2008 | From Times Wire Reports
The federal government released its management plan for drilling on the state's Roan Plateau, rejecting most of the environmental compromises offered by Democratic Gov. Bill Ritter Jr. The plateau, near Rifle, is rich in natural gas and oil shale as well as wildlife. It has been a front in a dispute over balancing energy production and wildlife resources. In December, Ritter sent recommendations to the Bureau of Land Management asking that areas considered the most environmentally sensitive be expanded and suggesting phased-in rather than all-at-once leases atop the plateau, effectively increasing the protected areas.
BUSINESS
March 13, 2013 | By Shan Li
California's Monterey shale, which holds an estimated 15 billion barrels of oil, has been touted as crucial to the state's energy future and a boon to its economy. A study released Thursday tries to quantify the potential economic benefits. The study by USC and the Communications Institute, a Los Angeles think tank, estimates that development of the 1,750-square-mile formation in central California could generate half a million new jobs by 2015 and 2.8 million by 2020. Tapping the Monterey shale, which  holds an estimated two-thirds of the country's shale oil reserves, would probably require some combination of horizontal drilling and hydraulic fracturing, known as fracking, a practice opposed by many environmentalists worried about possible damage to land and water.
OPINION
March 25, 2012 | Doyle McManus
When the price of gasoline rises, the supply of hot air expands. Just look at the recent GOP attacks blaming President Obama for prices that exceed $4 a gallon in some parts of the country. Not only is Obama responsible, according to some Republicans, he's downright pleased. As Mitt Romney put it last week to Fox News, "There's no question that when he ran for office, he said he wanted to see gasoline prices go up. " But there are some problems with Romney's statement.
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