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The Duplicity Of California’s Oil Collapse

February 20, 2018

Via: Forbes

Once our second most important producing state, the collapse of California’s oil industry is a very sad thing to see. The U.S. shale revolution has completely passed the state by. Although domestic crude oil production has reached heights not seen since the early-1970s, and will actually be setting new records this year, California’s oil output has plummeted nearly 60% since peaking in 1985 – with no sign of reversing. In stark contrast, mighty Texas has seen its crude production triple since 2010 alone to 3.6 million b/d.

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