California’s Oil Industry Collapses Despite Shale Boom
Come on – isn’t California the state that tells everybody how great it is and that they don’t want the dastardly fossil industry anymore? Its just fine that their own oil and gas dries up. They get what they always wanted. Let them sink into this enough so voters can see how they have been scammed by the crooks in Sacramento. California wants to be green – there is a price for that. Let them pay it. Pain is a great educator.
Not that long ago, California was the second most vital U.S. oil producing state. Since peaking in 1985, however, output has plunged almost 60 percent to 460,000 barrels per day (bpd). This collapse is made even more discouraging by the fact that total U.S. crude oil production has been soaring to record heights, up 140 percent to 12.1 million bpd over the past decade.
