The wide price differential between crude oil and natural gas is proving golden for California, asserts Hormoz Ameri, chairman of the California Independent Petroleum Association. "We are enjoying some good times in terms of the prices we are receiving for crude oil, which has caused most companies to pursue development projects that have been on hold for a while," says Ameri, president of Naftex Operating Co. in Los Angeles. "There is a lot of development work, including drilling new wells and hiring rigs, and also a lot of reworking old wells. All this has contributed to increasing oil production and has created jobs in California."
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