California: America’s Next Oil Boom?
Forget Texas, California may be set to lead the United States when it comes to oil production and potential. The Monterey Shale, which stretches from Los Angeles to San Francisco, is estimated to contain approximately 400 billion barrels of oil. The United States consumes just under 19 million barrels of oil on a daily basis meaning that the Monterey reserves has the potential to meet the nation’s needs for over 57 years. Of course, recovering that oil will prove to be something of a struggle [for more oil news and analysis subscribe to our free newsletter ]. See the full story here → Related Posts: A Deeper Look At America’s Commodity Industry How To Profit From Record U.S. Oil Production 5 Of The Biggest Oil Finds In History Breaking Down the Cost of a Gallon of Gas Time To Buy Oil?
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