Data points:
- since 1985, California crude oil production has plunged 60 percent to 460,000 bopd
- California's oil reserves have declined 25% to 2.2 billion bbls
- compare North Dakota, four small western counties:
- 1.2 million bopd
- reserves: conservatively 7 billion bbls
- fracking: doubled US reserves to 45 billion bbls over the past ten years
- California: second biggest crude oil consumer after Texas; each day --
- 40 million gallons of gasoline
- 8 million gallons of diesel
- 20% of the country's jet fuel
- dependent on Middle Eastern oil
- strict environmental rules preclude using its own oil or Canadian oil
- 37% of California oil comes from OPEC
- some promising shale unlikely to be tapped in near future if ever
- natural gas: most important source in energy mix in California
- look at this: 95% of natural gas consumed in California is imported
- unlikely any significant increase in local natural gas production
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Kashoggi Suspect Found Dead In Cell
For those who missed it, reported by The WSJ.
Hung, ruled a suicide.
