The U.S. Energy Information Administration (EIA) on Wednesday cut its estimate of recoverable oil in California's Monterey shale by 96 percent, casting doubt on what was once thought to be America's next major energy play. The deposit composes 2/3rds of the total shale reserves in the US.
Even though estimates in 2011 put the estimated recoverable oil at 13.6 billion barrels, while this update puts the estimate at 600 Million, the daily output is not expected to be impacted in the near future. "Not all resources are created equal," EIA head Adam Sieminski said.
http://www.finanzen100.de/finanznach...8669605_67939/