By Dennis Luna, J.D., P.E.
Development of the Monterey Shale could, over the next seven years, add 512,000 to 2.8 million new, high-paying jobs in California, increase income of the state’s residents by over $220 billion, and generate $24 billion in new tax revenues for state, county and local governments.
Those are the “conservative, median scenario” conclusions of a 71-page report, “The Monterey Shale & California’s Economic Future,” published by the USC Global Energy Network. The Network is a joint project of the Price School of Public Policy and the Viterbi School of Engineering, both of the University of Southern California. The Communications Institute, which supports nonpartisan analysis of public issues, collaborated on the project.
The study looked only at the economic effects of development of the Monterey Shale play. It noted that other important issues remain to be investigated by other researchers, including potential impacts on water supply, communities, air quality, greenhouse gases, seismic activity, and continued reliance on fossil fuels.
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