Proposal calls for 350 new oil wells in Price Canyon
March 26, 2014
A Phoenix, Arizona based natural resources company is planning to drill 350 new oil wells in an area of Price Canyon near Pismo Beach. [KSBY]
Freeport McMoran, which mines precious metals and produces oil and gas, currently pumps 5,000 barrels a day out of the Price Canyon location. In addition to adding 350 oil wells, the proposal calls for replacing 100 existing wells.
The company estimates that the project would add 50 to 60 jobs to the local economy.
San Luis Obispo County planners are currently preparing an environmental impact report for the project. In order to gain approval, Freeport McMoran must obtain a permit from the county planning commission.
Planners have expressed concerns about air and water impacts, as well as foul odor and increased traffic.
A smaller oil-drilling project proposed at a site outside the nearby Huasna Valley is also under review now by county officials. In 2012, both the county planning commission and board of supervisors rejected oil company Excelaron’s bid to drill inside the Huasna Valley.