[clearcarbon]

"U.S. officials cut estimate of recoverable Monterey Shale oil by 96%"

Smells like another "the science is settled" moment.

[Praxeologue]

Thus far, my layman's assessment is that:

- estimates were far too high in the past;

- the Feds are bringing them back in line;

- EIA estimates are subject to wild swings and low levels of accuracy;

- this topic is influenced by geology, not politics.