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Recoverable Monterey Shale Oil Reserves Slashed By 96%

monterey-shale
Bad news for those peak oil deniers who had hoped for a bright future with endless supply of shale oil. US authorities downgraded by 96% the estimated amount of recoverable oil buried in California’s vast Monterey Shale deposits, deflating its potential as a national “black gold mine” of petroleum. The Monterey Shale formation contains about two-thirds of the nation’s shale oil reserves. So, not 13.7 billion barrels are recoverable but merely 600 million.

[latimes.com]
[reuters.com]

We repeat: Peak Oil 2018.

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