You own the mineral rights to your California real estate, and as neighboring areas discover oil beneath them, you have begun to think about whether you may want to explore the idea of a well on your property. However, according to InsideClimateNews.org, a recent report has raised a debate about continuing to allow new wells to be drilled. Could it affect your ability to get a permit?
Researchers say the state should stop issuing permits to drill altogether. They claim that the other methods the state has employed to cut emissions are not nearly enough, but that cutting oil production could make a more substantial dent in California's contribution to factors that cause global climate change. This may sound ominous, but you should know that it would be very difficult for the state to implement, particularly when it could affect your rights to your own property, as well as creating other legal issues.
Other arguments against this approach also may sway lawmakers. For example, if California stops allowing new drilling, the oil will have to be imported, and other countries will increase drilling, so the global benefits are likely to be invalidated. Also, although oil adds significantly to California's economy, the amount of oil as a percentage of global production would not be enough to affect prices and reduce people's dependence on it.
The authors of the study include other methods of reducing the state's oil production, which still could affect your ability to capitalize on your mineral rights if legislators decide to implement them. This general information is provided for educational purposes, but it should not be interpreted as legal advice.