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Calif. Gov. Wants To Revive Oil Drilling Project

Christina Heller

Story Created: May 15, 2009 at 11:58 AM PDT

Story Updated: May 15, 2009 at 9:57 PM PDT

LOS ANGELES (AP) - In his latest budget proposal, Gov. Arnold Schwarzenegger is pushing legislation that he says would raise $1.8 billion for cash-strapped California by allowing the first new oil drilling project off the state's coast in 40 years.

The governor's proposal would revive a project that had been rejected by the State Lands Commission in January.

Schwarzenegger says the proposal that would expand drilling off Platform Irene in the Santa Barbara Channel would not violate the terms of the state's offshore oil drilling moratorium.

Last year, a group of anti-oil environmental groups threw their support behind the project after hammering out a confidential agreement with the oil company, Houston-based Plains Exploration & Production, in exchange for money for the state, thousands of acres of land and a commitment to shut down its operations countywide in 14 years.

(Copyright 2009 by The Associated Press. All Rights Reserved.)
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