This week I am creating slides for a presentation I am giving in California later this month. While researching the material, I took a closer look at the history of California’s oil industry. California’s Historical Importance Many people are unaware of California’s importance in the U.S. oil industry. In fact, 100 years ago California was the top oil producer in the U.S., responsible at one point for nearly 40 percent of U.S. oil production. California’s oil production rose throughout most of the 20th century, briefly eclipsing one million barrels per day in the early 1980s. Oil production began to decline thereafter peaking in 1985. The same pattern took place in many other states, and in fact was the case for the entire U.S., where oil production peaked in 1970 and then declined over the next 35 years. The Shale Boom Arrives But the shale boom changed the trajectory of […]