Drilling for 'white gold' in California's Salton Sea

Barely a mile from the southern shore of the Salton Sea — an accidental lake deep in the California desert, a place best known for dust and decay — a massive drill rig stands sentinel over some of the most closely watched ground in American energy.

There's no oil or natural gas here, despite a cluster of Halliburton cement tanks and the hum of a generator slowly pushing a drill bit through thousands of feet of underground rock. Instead, an Australian company is preparing to tap a buried reservoir of salty, superheated water to produce renewable energy — and lithium, a crucial ingredient in electric car batteries.

The $500-million project is finally getting started after years of hype and headlines about the Imperial Valley someday becoming a powerhouse in the fight against climate change. The developer, Controlled Thermal Resources, began drilling its first lithium and geothermal power production well this month, backed by millions of dollars from investors