After a thorough review of the current situation in Aliso Canyon, its potential effect on the community of Porter Ranch, the current economics of oil production and after discussions with decision makers and community leaders, The Termo Company (Termo) has decided to postpone the release of the Public Draft Environmental Impact Report (DEIR) for the North Aliso Canyon Project.
North Aliso Canyon Project Environmental Review and Community Collaboration Process - Termo has been engaged with L.A. County Supervisor, L.A. City Council, the Porter Ranch Neighborhood Council and the L.A. County Department of Regional Planning, to ensure that a complete and thorough environmental impact report (EIR) is completed on the proposed project.
California has a long, rich history in the oil and gas industry. While the Gold Rush of the mid-1800’s might be the first economic “boom” in California that comes to mind, the economic impact that the emergence of “black gold” had on the state cannot be overlooked. Dating back to 1875 when the first oil field was discovered in Los Angeles County, by 1904, California had hit 17.2MM barrels, surpassing Texas as the #1 producer of oil in the U.S. Even gold finally took a backseat in 1916, when the economic value of oil in California surpassed it.
The old adage states, “with great power comes great responsibility,” and in no industry is this more applicable than Oil & Gas. Fortunately, the Oil & Gas industry in California is very mature and has the benefit of many years of effective regulation.
The United States has gone from being the largest importer of oil and gas in the world to having a net surplus. It is now the largest exporter of liquefied natural gas and liquefied petroleum gas. This transformation is nothing short of astounding and is a direct outcome of American ingenuity, technology and the entrepreneurial spirit. Not only does this shift alter the economic landscape for exports, it also means that all American industry using natural gas or natural gas liquids are now operating from a huge competitive advantage in the global market.
Every stage of an oil and gas well goes through an extensive process of planning. Engineers must approve plans that include the protection of surface and underground environments throughout the process of planning, drilling, completion, production and restoration.
The Termo Company strives to reduce its environmental impact while expanding its operations to meet the growing energy demand in California and beyond. Our efforts include decreasing operational use of natural resources, advanced drilling techniques and investing in new technologies . . .
The Termo Company’s commitment to safety is straightforward and a responsibility shared by our employees, executives, contractors and everyone involved in our operations. Protecting the health and safety of all workers and the surrounding community is a core value for the Termo Company . . .