Has California’s Fracking Boom Already Gone Bust?
There was a time, just a few years ago, that most news reports deemed a shale oil boom inevitable in California. But now, it’s not looking like such a sure thing after all.
Drilling California
California’s Bubble Pops
Our new study by an experienced Canadian geologist, who has already examined the productivity of other shale oil formations in the US, concludes that the government and its contractor’s study is absurdly optimistic about the prospects for shale oil production in California.
“Wildly optimistic” Monterey Shale estimates
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.