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Title : The Decline And Slow Death Of California -- Zero Hedge -- April 30, 2019
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The Decline And Slow Death Of California -- Zero Hedge -- April 30, 2019

Re-posting. Link here.

Data points:

• since 1985, California crude oil production has plunged 60 percent to 460,000 bopd
• California's oil reserves have declined 25% to 2.2 billion bbls
• compare North Dakota, four small western counties:
• • 1.2 million bopd
  • reserves: conservatively 7 billion bbls 
• fracking: doubled US reserves to 45 billion bbls over the past ten years
• California: second biggest crude oil consumer after Texas; each day --
• 40 million gallons of gasoline
• 8 million gallons of diesel
• 20% of the country's jet fuel
• dependent on Middle Eastern oil
• strict environmental rules preclude using its own oil or Canadian oil
• 37% of California oil comes from OPEC
• some promising shale unlikely to be tapped in near future if ever
• natural gas: most important source in energy mix in California
• look at this: 95% of natural gas consumed in California is imported
• unlikely any significant increase in local natural gas production

North Dakota vs California:

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Kashoggi Suspect Found Dead In Cell

For those who missed it, reported by The WSJ. 

Hung, ruled a suicide.

http://bit.ly/2dZyQXu

Thus Article The Decline And Slow Death Of California -- Zero Hedge -- April 30, 2019

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