Gusher of reaction to oil report

Gusher of reaction to oil report

Ventura County Star | May 28, 2014 | by Timm Herdt

Those billions of barrels of oil are still down there. It’s just that they can’t be extracted, not with today’s technology, not at today’s oil prices. Those in the industry had always been cautious about reading too much into the EIA’s initial estimate, even as economic-development cheerleaders were touting it as a signal of an impending gusher of riches and oil-drilling opponents were warning that an environmentally damaging era of fracking was about to be ushered into the Golden State.

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