At 15 billion barrels, California's Monterey Shale is said to hold the nation's largest deposit of recoverable oil. The only problem is that its extraction has not proven to be economically profitable. Blame it on the shale's unique structure.
Apr 8, 2014 Los Angeles Times
SB 4 passed the legislature over strong objections from the oil and business community. California will go from having no well stimulation (includes acidizing) regulation set in statute to the nation's toughest, so why are environmentalists unhappy?
Sep 13, 2013 Los Angeles Times - Business
Sacramento reporter John Myers suggests that if the oil industry and the Sierra Club both oppose a fracking bill - one for going too far; the other for not going far enough - then state Senator Fran Pavley's bill, "must be doing something right".
Sep 2, 2013 News 10/KXTV Sacramento