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Posted on November 13 at 11:49 a.m.
The Board (Carbajal, Wolf & Farr) made a courageous decision to force SME to offset +/- 50,000 Metric Tons of Pollution, the equivalent of saving the pollution discharge from 10,000 new cars every year on to Santa Barbara's roads. SME's profits will hardly be impacted as the additional costs to meet the 10,000 MTCO2e threshold will be in the neighborhood of $.72 per barrel. (Final EIR, pp. 5.1-49.) Oil today sells at approximately $100+ per barrel. Plus, this decision will set an important precedent for future boards in 7 or so counties that will face applications to develop the 15.4 billion barrels of oil in the Monterey Shale formations. Stan Roden
On Enviros Successfully Challenge Oil Drilling Project