Last paragraph from the Independent article on Santa Maria on Nov 13:
According to the county, steam injection is believed to exacerbate the occurrence of naturally occurring seeps, and although Pacific Coast Energy Company has since taken action to prevent 90 percent of new leaks, some supervisors questioned if Santa Maria Energy’s new wells could seep, too. Buried under that discussion was Pacific Coast Energy Company’s recent application for 96 more steam injection wells.
I believe the Board of Supervisor's vote on the use of enhanced recovery in Santa Barbara County, in regards to limits on greenhouse gases, while not a total victory for the Trust at least removes doubt and clears up future for expansion permits and is good news. The market is reacting to the news and should be good for the future of the Trust.