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I've spent the last couple of weeks contemplating California's Monterey shale, which has been widely discussed recently as the country's next Bakken-style oil play, or even bigger.  The Bakken shale has turned North Dakota into the second-biggest oil-producing state in the US, at the same time that development of the Eagle Ford shale has been shoring up Texas's claim to the number one spot. So far, The Golden State has largely missed out on the shale revolution, despite having shale oil resources estimated to exceed the rest of the US combined. The...