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  • Could Monterey Shale Save California?

    02/05/2013 4:26:07 PM PST · by raptor22 · 39 replies
    Investor's Business Daily ^ | February 5, 2013 | IBD EDITORIALS
    Energy: 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. California is not running a surplus,...