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Monterey Shale in California offers huge oil resources
Oil industry experts in the U.S. see the huge market potential of California’s Monterey Shale, which runs from Los Angeles to San Francisco. The U.S. Geological Survey reported that the area contains more than 400 billion barrels of oil, equal to nearly half the total amount of conventional oil in Saudi Arabia. Research from private companies is focusing on finding ways to efficiently extract oil from the area, as its geological layers are folded, unlike other shale areas.