Categories

Take Action

Congress will soon consider new taxes and fees on America’s oil and natural gas industry that would be detrimental to our economy—less energy, jobs and government revenue. Learn more and tell Congress to oppose these proposals.
Take Action Now

Authors

Popular Entries

Recent Comments

Archives

Tag Cloud

Home » Domestic Energy » Resource-Rich Real Estate
  • user-pic

Resource-Rich Real Estate

Thursday was another gorgeous day in Long Beach, with blue skies and a pleasant breeze blowing along the harbor. At Lighthouse Point, children picnicked with their families while fishermen on a nearby pier caught croakers for supper. At the docks, you could hear seals barking at the Aquarium of the Pacific as tourists returned to shore on boats offering whale watching tours.

Long Beach has many attributes, among them a moderate climate, one of the busiest seaports in the United States and facilities that lure tourists to the area, including a massive convention center. But most residents here aren't aware of the hidden resources that have contributed so much to the City of Long Beach.

"A lot of residents don't know there is oil and natural gas development going on here," explained Curtis Henderson, the city's manager of oil operations.

In the early 1900s, the City of Long Beach won the right from California to manage its tidelands, including the port and its fisheries. When oil was discovered many years later, the city had the right to become a working partner with oil companies to develop it. In the 1960s, Long Beach and several companies agreed to create the THUMS Islands, a series of four man-made islands in the harbor to produce the oil and natural gas that exists in the close-in coastal waters and under the city itself.

Last year, when oil prices broke the all-time record, energy development generated $70 million for the city. In an average year, it provides about 5 percent of the city's revenue.

"When you hear the numbers and see how much fluid is being processed every day, it's mind-boggling," Henderson says. "We want people to understand it better."

According to a new Pricewaterhouse Coopers study, nearly 753,000 jobs in California are supported by the oil and natural gas industry, accounting for 3.7 percent of California's total employment. These jobs make up 4.6 percent of the state's total labor income.

Yet in Long Beach, energy development is out of sight and therefore, out of mind. The THUMS islands are disguised to make them visually pleasing, and equipment noise is blocked by sound barriers. From the shoreline, the islands look like resorts studded with palm trees, condos and waterfalls. In fact, the islands are so attractive, real estate agents often are asked whether any THUMS condos are available for sale.

THUMS3.jpg

Tomorrow I'll take a boat to the islands to see how Occidental Petroleum produces oil and natural gas in Long Beach harbor. I'll report my observations on Twitter during the tour and in Monday's blog post.


Comments 2

Pending 0
| Leave a comment


The democrats should compromise on its hatred of increasing domestic drilling and work it into the health care debate. If we democrats want a public option then we should help fund it throught profits from partial ownership of the oil off the West coast of Florida and ANWR. Put the stimulous $ towards a partnership with oil companies. The 9-11 Report says that we should all start working together. The report didn't just mean the FBI and the CIA.


I appreciate the concern which is been rose. The things need to be sorted out because it is about the individual but it can be with everyone.
========================================
albert pinto
Brisbane real estate


Leave a comment

We welcome your thoughts and opinions on the topics posted by the authors of EnergyTomorrow Blog. We hope you’ll help us make this blog a place of informed and respectful conversation, where visitors can learn about energy issues and discuss ideas that will shape our energy future.

Please note, if this is your first time submitting a comment here, one of our administrators will need to approve it for posting. Until it’s approved, it won’t appear in the comment thread. In the meantime, thank you for waiting! (Read our full comment policy here.)

No TrackBacks

TrackBack URL: http://blog.energytomorrow.org/cgi-bin/mt-tb.cgi/176

Connect with Us

More Subscription Options

Latest from YouTube

Latest from Twitter

Latest from Flickr