Relax: Monterey downgrade won’t dent US shale boom—yet

Relax: Monterey downgrade won’t dent US shale boom—yet

CNBC | May 23, 2014 | by Javier David

Tupper Hall, vice president of the Western States Petroleum Association, said he was not surprised by the EIA downgrade, but insisted all was not lost. Although he said fracking opponents were “gleeful” over the Monterey news, “it doesn’t mean the oil isn’t there and the technology will not evolve to the point where it can be produced in large volumes,” he said.

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