Tag: California

• Saturday, May 24th 2014 - 00:37 UTC

  The California shale bubble just burst

  

  The great hype surrounding the advent of a shale gas bonanza in California may turn out to be just that: hype. The U.S. Energy Information Administration (EIA) – the statistical arm of the Department of Energy – has downgraded its estimate of the total amount of recoverable oil in the Monterey Shale by a whopping 96%. Its previous estimate pegged the recoverable resource in California’s shale formation at 13.7 billion barrels but it now only thinks that there are 600 million barrels available.

• Wednesday, January 15th 2014 - 07:11 UTC

  New EPA rule requires chemical disclosure for offshore fracking

  

  By. Nick Cunningham of Oilprice.com - The U.S. Environmental Protection Agency published a rule on January 9, 2014 requiring oil and gas companies using hydraulic fracturing off the coast of California to disclose the chemicals they discharge into the ocean. Oil and gas companies have been fracking offshore California for perhaps as long as two decades, but they largely flew under the radar until recently.