Fight Over Baldwin Hills Oilfield (tags)
The two-square-mile Baldwin Hills Oil Field is the last large-scale undeveloped open space in South and West Los Angeles. The Oil Field has operated since 1924 and had almost played out. Now, Plains Exploration and Production Company (PXP) wants to drill up to 1,000 new wells.
Peak Oil: The Global War for Oil (tags)
Despite optimistic estimates, the market seems to accept peal oil since the rich oil companies are not investing in new refineries. The 150-year American expansion explains the military option. Speculation caused the tenfold increase of a barrel of oil from $10 (1998) to $100 (2008).