Bright Future for North Dakota Energy Revenue, Dismal Outlook for California –Image: California Political Review (WSJ) California’s Monterey Shale formation is estimated to hold as much as 15.4 Billion barrels of recoverable offshore shale oil reserves in the United States lower 48 states or more than double the amount of North Dakota’s prosperous Bakken Field and Three Forks formations according to the 2013 estimates by the U.S. Dept of Interior and U.S. Geological Survey.
Problems do exist in extracting the oil from layers of rock seeming as impenetrable as another, California’s rigid regulatory climate.
The latter will likely make it impossible any time soon, for California to take advantage of this new found wealth right under ones feet, despite the state’s weak economy and high unemployment, falling tax revenues, a $127+ Billion deficit and dismal consumer confidence that things will improve anytime soon.
Democrats in Sacramento together with their loony liberal lefty environmentalist wacky partners, will be willing to forgo this huge new opportunity to reverse the state’s negative and dangerous economic trends and instead will kick a gift horse in the mouth by staying on their disastrous greeny course, benefiting no one in the short and long term but will ‘feel really good’ when they pretend to ‘feel the pain’ in the suffering of others.
Related: The Liberals Idea of Suffering –The College Conservative
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