To understand the sheer magnitude of this opportunity, let's put that figure in context. The U.S. Dept. of Energy estimates that there are 23.9 billion barrels of recoverable shale oil in the lower-48 states. That means the Monterey Shale by itself holds nearly two-thirds of the total.
A new report from the UK research team at Price Waterhouse and Cooper confirms what we knew all along: We’re right and they’re wrong. Really wrong; once-in-a-lifetime, disastrously wrong if grading on the scale the rest of us are subject to. Grading on the liberal scale, however, it’s just normal, everyday, run of the mill errors in judgment, math, worldview, physics and fluid mechanics that liberals deal with all the time.