Something amazing is happening in the American economy. It’s time California got on the bandwagon.
That should be the take-away for state residents from reports that the United States will overtake Russia as the world’s largest oil and gas producer by year’s end, thanks to radical improvements in hydraulic fracturing. The process, known as fracking, uses underground water cannons to break away rock and access oil and natural gas reserves. Its increased efficiency has helped create hundreds of thousands of middle-class jobs in North Dakota, Texas and other oil heavy states.
Which brings us back to California. The Golden State has more than 15 billion barrels of recoverable oil in the underground Monterey Shale formation, mostly beneath the Central Valley — nearly two-thirds of all such oil in the nation. Its time to get on the bandwagon California.