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Jeff Boggs, responsible for the drilling at Consol Energy poses infront of one of the company's Horizontal Gas Drilling Rigs exploring the Marcellus Shale outside the town of Waynesburg, PA on April 13, 2012.
Fracking, or hydraulic fracturing, in the Monterey shale may not be possible anymore, as earthquakes have left the area too unstable for companies to turn a profit and now the shale may go untapped.
A study out of USC last month projected as many as 2.8 million jobs and more that $24 billion in state and local tax revenue in the next 7 years from developing the oil shale.
Here to explain is Amy Myers-Jaffe, executive director of energy and sustainability at the University of California, Davis.