Many things come to mind when one thinks of California. Whether it is palm trees, Hollywood, the Golden Gate Bridge, or Katy Perry—California is well known for its unique attributes. However, shale gas extraction is not one of them. Due to budgetary mismanagement, 9.8% unemployment, and America’s highest poverty rate, California may consider joining the shale revolution to help fix its financial problems.
It worked in North Dakota where the industry lifted income and decreased unemployment to an incredible 3.2%.
Environmentalists have already condemned the production of shale gas in Monterrey citing water contamination and air pollution as deterrents. However, industry experts argue that production in California, where environmental regulations are tight, will ensure that the gas extracted is done so with very little impact on the environment—the same cannot be said for other locations. In fact, California has been producing oil since 1865. Even today it remains the third largest oil producer in the country. The oil extracted on Californian soil is typically done so in cleaner and in more energy-efficient ways.
As California deliberates, fracking technology continues to improve. In fact, many developers are interested in using saline rather than fresh water. The industry is booming and California would do well to reap the financial benefits of shale gas.