Monterey Shale Shakes Up California’s Energy Future
by Gilbert Keith
I didn’t know this.
” According to U.S. government estimates, as much as 15.4 billion
barrels of oil could be locked within the Monterey shale. That
would be more than double the amount of oil reckoned to lie
within the Bakken shale, the booming play that has made North
Dakota the nation’s number 2 oil-producing state behind Texas.
It’s more than five times the oil of Texas’ thriving Eagle Ford shale.
Indeed, Monterey holds more than half of the undeveloped,
technically recoverable shale oil resources believed to exist in the
continental United States. (See related: ” Pictures: The New Oil
It is a storehouse that, if developed, could add as many as 2.8
million jobs by 2020 and increase tax revenue for state and local
governments by $4.5 billion, according to an analysis by University
of Southern California academics. Industry experts believe the
possibilities are huge. (See related feature: ” America Strikes Oil .”)”