Plunging oil prices choke off boom in California

Plunging oil prices choke off boom in California

BAKERSFIELD, Calif. -- Each year, the American Association of Drilling Engineers hosts a meeting here affectionately called the Liar's Club. A cocktail-fueled crowd hears oil companies' well-drilling and production forecasts -- estimates often so grandiose everyone understands they are exaggerations. Pledges to drill thousands of wells are common. But at this month's ...

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