Delivering Important Community Benefits
The Hermosa Beach Oil Recovery Project will deliver important community benefits, along with environmental safeguards and new resources for Hermosa Beach.
|The Hermosa Beach Oil Recovery Project is a proposal to access known oil resources within the City’s jurisdiction from a single, onshore location by utilizing environmentally safe and tested directional drilling technology.
- NO OFFSHORE OPERATIONS. By accessing offshore oil reserves from an onshore location, utilizing the latest recovery technology, the Hermosa Beach Oil Recovery Project will protect the sensitive ocean and coastal environment.
- SINGLE SITE OPERATION. By containing all oil recovery and processing operations within a single 1.3-acre site -- not multiple locations -- the project will minimize impacts and avoid multiple site oil development, common throughout LA area.
- VISUALLY IMPROVED SITE. Project operations will be quietly maintained behind a 16-foot block wall, with an attractive 10 foot landscaped setback along the adjacent roadways.
- UNDERGROUNDING UTILITY POLES. The project also will provide undergrounding of utility poles and offsite intersection improvements
- COMMITTED COMMUNITY PARTNER. E&B Resources is a socially and environmentally responsible company committed to the civic life and social welfare of the communities in which it operates.
- EMPLOYMENT OPPORTUNITIES. The project will create needed, new construction jobs as well as ongoing operational positions, contributing to local employment in Hermosa Beach.
- NEW REVENUE STREAMS. The project will provide a new revenue stream to the City, Schools and other Leaseholders. Royalty revenues from both recovered tidelands and uplands oil resources, as well as new tax revenues, will flow to the Hermosa Beach Community -- potentially cumulating in hundreds of millions of dollars over the life of the project
- NO FRACKING. Previously developed portion of the Torrance Oil Field is comprised of sands and naturally fractured shales that already provide the reservoir characteristics necessary for oil production
- SAFER THAN EXISTING CUP (Conditional Use Permit). Adoption of today’s latest, safest and most environmentally advanced technology will reduce environmental impacts over previously approved oil recovery project of 1993.
- NEIGHBORHOOD PROTECTION. Use of a closed loop system for all recovery and processing equipment, and containment of all operations within a single site, protects the neighborhood and surrounding community.
- REMEDIATION OF CITY YARD. During the production phase of the Project, E&B will clean up City Maintenance Yard at Valley Drive and 6th Street, a site historically utilized as a municipal waste facility, and also home of earlier oil operations, to standards which allow the site to be used for oil development.
- REMOVAL OR TREATMENT OF IMPACTED SOIL. Project will remove or treat impacted soil from the prior use of the property in compliance with all applicable standards.
|Consistent with an energy policy of maximizing resource recovery from existing lands and leases, the Hermosa Beach Oil Recovery Project will efficiently and safely produce new domestic oil resources from a known and well-characterized reservoir, under an existing lease, and deliver these needed new supplies into the currently supply-constrained California marketplace. The Hermosa Beach Oil Recovery Project also will be a California-oriented project – a wholly in-state oil production, transportation and distribution energy supply project.