Earlier this month it looked as though the California state legislature was so desperate for revenue that it would lift the 40 year ban on offshore oil drilling in order to raise $100 million annually. As the Oil & Gas Journal blog reports:
The project won support from Santa Barbara area environmental organizations as well as Schwarzenegger because it proposed drilling into state waters from an existing platform in federal waters. PXP also would have terminated its existing California offshore operations in 14 years and would have removed all related onshore processing facilities at the end of the project instead of continuing its current program for 30 or more years.
So California's environmentalists get to look at old offshore oil rigs for another generation.