California Shale Oil: Will the Hype Produce the Results?


It’s been called “an opportunity we can’t miss.” It’s been promised to be the thing that will “single-handedly” turn California’s economy around, increasing state and local tax revenue by $4.5 billion and bringing in some 2.8 million jobs by 2020. It’s the much-hyped California shale oil boom, and it has arrested the nation with its…

It’s been called “an opportunity we can’t miss.”

It’s been promised to be the thing that will “single-handedly” turn California’s economy around, increasing state and local tax revenue by $4.5 billion and bringing in some 2.8 million jobs by 2020.

It’s the much-hyped California shale oil boom, and it has arrested the nation with its allure.

Seeing current examples of the benefits of shale in other states across the country – including North Dakota, where its Bakken shale formation has helped drive the state’s unemployment rate down the nation’s lowest level at 3.2% and pushed per-capita GDP 29% higher than the rest of the country – many hope that California can produce similar, if not even better, results with its Monterey Shale formation.


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