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Monterey estimate means little to energy independence

Zachary Toliver | Shale Plays Media

“Fracktivist” may be celebrating the reduced estimations of shale oil and gas too soon.

Although recently, the Monterey Shale in California was hacked at the knees by an EIA evaluation that cut the recoverable oil amount by 96 percent, our overall proven reserves just keep rising according to Reuters’ columnist Christopher Swann. “Sadly, for the anti-frackers this is based on a statistical misunderstanding” he claims. Even though the California shale was supposedly holding the potential to be 64 percent of America’s total shale, it was never deemed even modestly economic for recovery. In addition, it doesn’t seem to change the projected energy independence of the United States by 2020. Check out the video here of Chris Swann’s analysis of the new Monterey Shale estimates and also take a look at  a previous article on the Monterey Shale.

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