The Peak Oil Crisis: California’s Bubble Pops Falls Church News Press-Dec 11, 2013 Rapid increases in production, however, mean that the faster we use up something the sooner will come the day when production starts to decline and that may not be very far away…As the U.S. burns about 7 billion barrels of oil a year we have at least a three-year supply of shale oil – if we can get it out of the ground. Interestingly, the government’s contractor reported that some 15.4 billion barrels of this shale oil were buried under California while only 3.6 billion was in North Dakota and 3.4 billion in south Texas. The rest was sort of scattered around.
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