Monterey Shale Rivals Earlier Shale Giants
California's Monterey Shale deposits may contain more oil than North Dakota's Bakken and Texas' Eagle Ford -- two giant US shale deposits that have just begun to change the face of global oil production.
California's energy problem sits in Sacramento, in the form of a lefty-Luddite green dieoff.orgiast state government / faux environmental industrial complex. Sacramento is the enemy of California's energy future.
Running from Los Angeles to San Francisco, California's Monterey Shale is thought to contain more oil than North Dakota's Bakken and Texas's Eagle Ford -- both scenes of an oil boom that's created thousands of jobs and boosted U.S. oil production to the highest rate in over a decade.Governor Jerry Brown along with the Sierra Club, would like to stop California's energy boom before it can begin. But they are making many enemies among the grass roots by doing so, and if they cannot find a way to compromise their faux environmental dogma for the sake of California's fiscal health, there will be a reckoning.
In fact, the Monterey is thought to hold over 400 billion barrels of oil, according to the U.S. Geological Survey. That's nearly half the conventional oil in all of Saudi Arabia. The United States consumes about 19 million barrels of oil a day...
Several oil companies have put together research teams to work on the Monterey, said Katie Potter, head of exploration and production staffing at NES Global Talent, a company that recruits oil industry professionals.
If the Monterey takes off, Potter said the impact on jobs in the state would be huge, saying the shale boom has already created 600,000 jobs nationwide over the last few years.