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'Fracking' the Monterey Shale -- boon or boondoggle?

2013-12-28 15:00:00| Climate Ark Climate Change & Global Warming Newsfeed

LA Times: "Eureka!" reads the California motto, originated in the 19th century Gold Rush. Now some believe the state is on the cusp of a 21st century bonanza, only this time it will be oil that fuels a Golden State boom. Modern prospectors are eyeing the Monterey Shale formation, a 1,750-square-mile resource-rich swath of land in the San Joaquin Valley. Lying deep beneath the valley's surface is a trove of shale oil -- some 15.42 billion barrels' worth, according to an estimate by the U.S. Energy Information...

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