oil-and-money-vector

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Referring to the previous two posts, Climate Change and Thoughts on Peak Oil, today I read a Wall Street Journal article that ties the two together nicely.

The article is California Could Be the Next Shale Boom State, by Mark Mills.  The short and sweet of the piece is that California has oil reserves in the Monterey Shale Field that are on the order of Saudi Arabia.  In a state where environmentalists have put a stop to most drilling and energy exploration, the sad economic state of California’s government may set the stage for development of this amazing asset.  Wouldn’t it be interesting if California became a major oil exporter and resolved its economic problems in much the same way as Norway when it found North Sea Oil in the late 70s.

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