The Environmental nuts would be ranting and raving about how dangerous it was, preserving the natural beauty, and global warming (aka climate change).
If development was be approved, at least one or several state bureaucracies would hamstring the project and jack-up the costs through the stratosphere. Obama might get the EPA involved to shut things down or delay the project.
I think I've covered most of the bases in the anti-Monterey oil shale development.
What I dont understand is CA could allow it and tax them to pay for their debt. What is wrong with that state.