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Health & Fitness

I (love) oil - 2 gallons a day!

I am a Hermosan who will NOT "benefit" from exploiting oil. Let's plan a "safe and environmentally responsible project" that is a better fit for Hermosa (e.g., a carbon neutral revitalization of City Yard a la Metlox)... Keep Hermosa Hermosa!

According to the Energy Information Administration (EIA), we consume more petroleum products than any other country – 18.8 million barrels per day (China will beat us soon).  Most of the oil we use is to fuel our cars.  I have a short commute – so I use less than most (and, honestly, I should walk or bike to work).  But, I also schmear petroleum jelly all over my eczematous son twice a day. You may be surprised by how many petroleum-based products we use in our daily lives.  

So, this begs the question:  if we consume so much oil everyday, do we need to drill in Hermosa Beach?  The answer is a resounding NO! The U.S. has experienced a recent surge of domestic oil.  It is projected that crude oil supply will soon exceed regional refiners' demand.  E&B’s attempt to “capture bypassed oil in existing fields” is NOT part of a national strategy to reduce our dependence on foreign oil.  

Rather, E&B is aggressively advancing a business strategy to a “create a portfolio of assets” that has a "low cost of entry, low capital costs, low complexity, and low competition and high profitability and very long longevity."  What about the costs to Hermosa Beach residents?

This "Project" is an attempt for E&B to wildcat before (in Mr. Steve Layton's [President, E&B] words) more "impediments" or "unnecessary and burdensome regulation") decrease their profit margins. 

So, does this push to drill now really "benefit" Hermosa Beach residents? No. It primarily benefits a privately held New York corporation with an affiliate based in Bakersfield.  Do we need this domestic oil now? No. But, E&B "needs" to exploit this oil play before efforts to protect our environment and our health cut into their profit margins. 

Connect and Stay Informed:
www.keephermosahermosa.com

Read more:
E&B Natural Resources Management:  A Growth Oriented California Based E&P Company. January 2012.  Access at http://www.ebresources.com/wp-content/uploads/2013/04/overview2012.pdf

Mr. Steve Layton's Testimony before the Committee on Oversight and Government Reform.  May 2011.  Access at
http://oversight.house.gov/wp-content/uploads/2012/01/5-6-11_Layton_Testimony_FINAL.pdf

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