Monday, March 18, 2019, T+75, Part 8

How the California oil boom died -- oilprice -- March 14, 2019 -- link here. From the link:

Since 2010, U.S. oil production has increased by 131 percent, with huge gains in oil production in the following states (among others):

• North Dakota – up 634 percent
• Colorado – up 508 percent
• New Mexico – up 377 percent
• Texas – up 330 percent
• Oklahoma – up 238 percent

In fact, only three major oil-producing states have seen a decline in oil production since 2010: California, Louisiana, and Alaska. One of the graphics I created for my presentation shows the stark contrast between oil production in Texas and California as the shale boom unfolded.
California is missing the shale boom.

I'll stop here for now, but this is one of the reasons I love to blog. We talked about the Monterey Shale many years ago and predicted that California would not participate in the shale revolution for two reasons: geology and politics. Right on both accounts.

Had California successfully participated in the shale boom, it's very like Californians would be paying $1.99/gallon vs the $5.00/gallon they now pay (yes, a bit of hyperbole -- but this is a blog, not a fake news media outlet.)

The article at the link is a "keeper."

I'll be off the net for awhile. Going to H Mart in Plano to pick up some chicken paws.

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For Your Love

For Your Love, The Yardbirds