An oil pump at the Port of Long Beach’s Wilmington Oil Field. Click the photo to read the article in the Long Beach Press-Telegram.
One of the solutions to Long Beach’s ongoing budget problems may be buried deep underground [in the form of oil]. Mayor Bob Foster made it clear … that while the project is the biggest thing on the table for the city budget when examined in purely financial terms, it would not mean nearly as many jobs as some of the proposals being discussed for the former Boeing 717 site, such as an electric car plant or film studio. … Of the $50 million that Occidental would consider investing, about $30 million would be sunk into the state Tidelands area, which is south of Ocean, and $20 million in the city’s Uplands area, the inland land north of Ocean and adjacent to the port.