[Excerpt]: By now, you’ve probably heard the proclamations: California is on the brink of a modern-day oil boom, and that the Monterey Shale formation, long a source of crude oil in Kern County could usher in another black gold rush.
Industry insiders and politicians, citing several recent studies, are literally gushing with optimism over the prospect of a protracted period of economic prosperity.
But those studies are now coming under scrutiny.
On Tuesday, a geoscientist from Canada released a report that concludes those rosey predictions are wildly optimistic… read full article
Read the report Drilling California: A Reality Check on the Monterey Shale
Visit the website montereyoil.org.