February 6, 2013
Could Monterey Shale Save California?
Editorial, Investor's Business Daily
The former Golden State is floating in debt, even as it sits on two-thirds of America's shale oil reserves locked in a formation four times the size of the one that sparked North Dakota's economic boom.
North Dakota is now the largest oil producer in the country after Texas with a monthly oil output of about 20 million barrels. North Dakota's oil boom accounts for 11% of U.S. oil production, and it is the impetus behind the state's $3.8 billion surplus and an unemployment rate of just 3.2%, the lowest in the nation.
TAGGED: California, Monterey