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California: Where 13 Billion Barrels of Oil Simply Vanish

Motley Fuel: California was supposed to be heading toward a new gold rush. Although, this time it was for black gold. The Monterey Shale underneath the state was estimated to hold about 13.7 billion barrels of recoverable oil making it the country's largest shale oil deposit. That black gold rush is a lot less likely after the U.S. Energy Information Administration reportedly will slash its estimates of recoverable oil in the state by 96%. According to the report in the LA Times, the EIA is set to announce...