The proven reserves for California are based on historic estimates, they haven't been thoroughly re-evaluated, and were based on previous extraction technologies (before side-drilling etc). The current position of my friends who do oil/gas analysis is that California proven reserve estimates are at least 1 order of magnitude below reality mainly because people aren't actively looking because of the moratorium.
The point of all this is that California's offshore fields aren't all that special, and they aren't "easy oil". If they were, any environmentalist resistance would have been defeated long ago.
I know you said this in reference to Californian oil, but it also applies to Saudi oil. The number of dollars paid isn’t the only cost of using that oil.