Like it’s really gonna happen
And therefore we can't drive a stake through the heart of fracking yet.
So where is CA gonna get the large volumes of water needed for fracking? CA is in a record drought.
As always, the market takes care of the situation, despite the best efforts of politicians and greens to foul things up. Every greenie I know drives a car and heats a home.
The current balance will remain in place. Slowing production raises energy prices, leading to more production. If the price drops too far, production slows, bringing prices back to where production is profitable.
It’s inexorable, until a cheaper source per unit of energy is available.
I have heard that the Monterrey shale deposits, while huge, are not now technically recoverable. Given that the technology always seems to be improving, do you think that oil producers will eventually be able to extract some of it?
Could be a boon for California. With all their welfare programs they sure could use additional revenue sources such as taxes on production :)