Big reserves, big reservations

摘要

Shale exploitation in North Dakota has lifted incomes and brought unemployment down to 3.2% of the workforce, the lowest level in the country. Californians are rarely found looking longingly towards the Midwest. But the revelation that their state, with unemployment at 9.8% and America's highest poverty rate, may be sitting on the largest deposit of shale oil in the continental United States has led some to wonder if their salvation lies 10,000 feet (3,000 metres) beneath them. California has been an oil state since 1865. Thanks largely to reserves that can still be tapped by conventional means, it remains the third-largest producer in the country.