California Fracking May Boost State Economy 14%, USC Study Says

Development of oil-shale deposits through Central California using fracking and other techniques may boost the state’s economic activity by as much as 14.3 percent, a University of Southern California study said.

Such drilling in the Monterey Shale Formation, in addition to increasing per-capita gross domestic product, may add as much as $24.6 billion in state and local tax revenue and as many as