Breitling Oil and Gas California Morning Podcast #2

We all know that California has a well-deserved reputation for setting the pace for environmental regulation. Ironically California is the country’s fourth-largest oil producer, and  our Monterey Shale formation holds an estimated 15.4 billion barrels of oil or 64% of the nation’s shale oil reserves

Still, a study released in March by the University of Southern California concluded that a Monterey Shale oil boom could create 512,000 to 2.8 million jobs between 2015 and 2020 and add $25 billion to the coffers of a state still reeling from the economic downturn. And the governor, Jerry Brown appears to have those numbers in mind: He has said the state needs to balance oil production and the jobs and revenues it generates with environmental protection.

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