This morning, I was quite taken aback to read the following excerpt from an LA Times article. This seems like a pretty sweet deal, at least for Santa Barbarans, but I can't help but wonder what kind of state this new 'park land' is in. Hmm . . . trading greenery for depletion of the world's resources . . . are environmentalists really winning here or merely being duped into selling out? And what will happen to the currently emerald hue of this oceanview property once Californians have bought and used all 200 million barrels of oil it is said that PXP stands to gain from this deal? I am a little dubious. As my dear old dad always says, "If something seems too good to be true, it usually is."
A Houston oil company has agreed to shut down its offshore oil production off Santa Barbara County decades early in exchange for approval this year to drill into untapped undersea reserves and cash in on the nation's record oil prices.
To sweeten the deal, Plains Exploration & Production Co. -- known as PXP -- also has agreed to donate about 200 acres of oceanview property along the sparsely populated Gaviota coast and an additional 3,700 acres in Santa Barbara's premier wine-growing region for public parkland. It would withdraw a proposed housing development on that land and pay millions to fund projects that offset carbon dioxide emissions, such as low-emission public buses.
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