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Bankers and Investors Finding Fracking Industry’s Underlying Models Prove Overly Optimistic
Bankers and Investors Finding Fracking Industry’s Underlying Models Prove Overly Optimistic Warren Buffet has a famous quote about investing: “Only when the tide goes out do you discover who’s been swimming naked.” When it comes to his $10 billion investment in Occidental Petroleum, Buffett will need to take that one to heart now that other investors have sued Occidental for the merger financed […]
Transition Towns, Re-localisation, COVID-19 and the Fracking Industry.
Transition Towns, Re-localisation, COVID-19 and the Fracking Industry. The vulnerabilities of the global village and its economy have been laid bare by the assault of the coronavirus (Sars-CoV-2), which has led to a pandemic of the infectious disease, COVID-19. The mobility chains that enable the flow of civilization are now substantially truncated, with collapsing demand for transportation […]
Is the U.S. Fracking Boom Based on Fraud?
Is the U.S. Fracking Boom Based on Fraud? In a 2016 interview with Fraud Magazine, former Enron CFO Andrew Fastow explained what he thought made him so successful while at the former energy corporation that’s now infamous for financial scandal. “I think my ability to do structured financing, to finance things off-balance sheet and to find ways to manipulate […]
Will the Fracking Revolution Peak Before Ever Making Money?
Will the Fracking Revolution Peak Before Ever Making Money? This week, the Wall Street Journal highlighted that the U.S. oil and gas shale industry, already struggling financially, is now facing “core operational issues.” That should be a truly frightening prospect for investors in American fracking operations, but one which DeSmog has long been warning of. This one line from the Journal sums up […]
No Fracking Way: Debt-Laden Shale Producers May Unleash The Next Financial Crisis
No Fracking Way: Debt-Laden Shale Producers May Unleash The Next Financial Crisis After nearly two decades of horizontal drilling, fracking – as it is commonly known, has “turned the energy world upside down,” according to Journalist Bethany McLean, a former Goldman Sachs analyst-turned-journalist. And according to a new op-ed in the New York Times, McLean has a warning for […]
Flip This Well: How Fracking Company CEOs Get Rich While Losing Billions
Flip This Well: How Fracking Company CEOs Get Rich While Losing Billions Last year the fracking company Halcón Resources announced a new strategy that was sold as the path to profits for the previously troubled shale oil and gas firm. The company had sold its stake in the Bakken oil fields in order to double down […]
Here’s the New Study the Fracking Industry Doesn’t Want You to See
Here’s the New Study the Fracking Industry Doesn’t Want You to See (ANTIMEDIA) Though fracking industry proponents scoff at any intimation their so-called vital industry poses even scant risks to the public, a new study published in Toxicology and Applied Pharmacologyjust proved those critics right — fracking wastewater causes cancer. Using human bronchial epithelial cells, which are commonly used to […]
Fracking Firm Encourages Industry to Imitate Taco Bell’s Twitter Strategy
Fracking Firm Encourages Industry to Imitate Taco Bell’s Twitter Strategy Can fracking firms win public support through social media by replicating the whimsical style of Taco Bell’s Twitter account? That was one of the goals discussed at an Energy Digital Summit event with Brittany Thomas, an external affairs coordinator for Cabot Oil and Gas, a leading hydraulic fracturing company. Big corporations, […]
Californians Outraged As Oil Producers & Frackers Excluded From Emergency Water Restrictions
Californians Outraged As Oil Producers & Frackers Excluded From Emergency Water Restrictions California’s oil and gas industry is estimated (with official data due to be released in coming days) to use more than 2 million gallons of fresh water per day; so it is hardly surprising that, as Reuters reports, Californians are outraged after discovering that these firms […]
Planet of the Space Bats
Planet of the Space Bats As my regular readers know, I’ve been talking for quite a while now here about the speculative bubble that’s built up around the fracking phenomenon, and the catastrophic bust that’s guaranteed to follow so vast and delusional a boom. Over the six months or so, I’ve noted the arrival of […]
Fracking set to be banned from 40% of England’s shale areas
Fracking set to be banned from 40% of England’s shale areas Guardian analysis reveals new rules agreed by government will make huge swath of protected areas off limits for shale gas exploration Fracking is set to be banned on two-fifths of the land in England being offered for shale gas exploration by the government, according […]
Another Shale-Bubble Bursts: Oil’s Plunge Is Not ‘Unequivocally Good” For This Group | Zero Hedge
Another Shale-Bubble Bursts: Oil’s Plunge Is Not ‘Unequivocally Good” For This Group | Zero Hedge. While Jim Cramer went “all-in on oil stocks” in May 2014 (right before the collapse), it was the fracking sand-providers that were the most-loved stocks on many individual investors buying lists last year… until their worlds caved in. As WSJ reports, for many sand producers, […]
Hard Times in a Boom Town: Pennsylvanians Describe Costs of Fracking | DeSmogBlog
Hard Times in a Boom Town: Pennsylvanians Describe Costs of Fracking | DeSmogBlog. If you’re looking for the shale gas boom, northeastern Pennsylvania is the place to start. The Marcellus is the largest and fastest growing shale gas play in the U.S. and more than half of its 50 most productive wells were drilled in Susquehanna County in […]
Citizens Take Monitoring Into Own Hands as Eagle Ford Shale Boom Continues Undaunted | DeSmogBlog
Citizens Take Monitoring Into Own Hands as Eagle Ford Shale Boom Continues Undaunted | DeSmogBlog. Hugh Fitzsimons lll, a buffalo rancher on the outskirts of Carrizo Springs, Texas, cautiously watches the fracking industry’s accelerating expansion. His 13,000-acre ranch is atop the southwestern part of the oil-rich Eagle Ford Shale, which stretches from Leon County in northeast […]
OPEC Decision Likely to Crash U.S. Fracking Industry » EcoWatch
OPEC Decision Likely to Crash U.S. Fracking Industry » EcoWatch. At its meeting today in Vienna, Austria, the 12 member countries of the Organization of Petroleum Exporting Countries (OPEC) voted to keep their output target unchanged despite a 30 percent slump in the oil price since June, due primarily to the explosive growth in fracking in the U.S. as well as […]
