{"id":6741,"date":"2015-03-23T06:00:29","date_gmt":"2015-03-23T11:00:29","guid":{"rendered":"http:\/\/olduvai.ca\/?p=6741"},"modified":"2015-03-23T06:00:29","modified_gmt":"2015-03-23T11:00:29","slug":"global-shale-fail-oil-majors-leaving-fracking-fields-across-europe-asia","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=6741","title":{"rendered":"Global Shale Fail: Oil Majors Leaving Fracking Fields Across Europe, Asia"},"content":{"rendered":"<h3><a href=\"http:\/\/www.desmogblog.com\/2015\/03\/22\/shale-fail-oil-majors-leaving-fracking-fields-across-europe-asia\" target=\"_blank\">Global Shale Fail: Oil Majors Leaving Fracking Fields Across Europe, Asia<\/a><\/h3>\n<p>With some analysts\u00a0<a href=\"http:\/\/oilprice.com\/Energy\/Energy-General\/Oil-Crashes-A-Second-Time-Whats-Next.html\" target=\"_blank\">predicting the global price of oil to see another drop<\/a>, many oil majors have deployed their parachutes and jumped from the<a href=\"http:\/\/www.desmogblog.com\/fracking-the-future\/\">hydraulic fracturing (\u201cfracking\u201d)<\/a>\u00a0projects rapidly nose-diving across the\u00a0world.<\/p>\n<p>As The Wall Street Journal recently reported, the unconvetional shale oil and gas boom is still predominantly U.S.-centric, likely to remain so for years to\u00a0come.<\/p>\n<p>\u201cChevron Corp., Exxon Mobil Corp. and Royal Dutch Shell\u00a0<span class=\"caps\">PLC<\/span>\u00a0have packed up nearly all of their hydraulic fracturing wildcatting in Europe, Russia and China,\u201d\u00a0<a href=\"http:\/\/www.wsj.com\/articles\/oil-giants-break-their-picks-trying-to-crack-non-u-s-shales-1426735258\" target=\"_blank\">wrote The Wall Street Journal<\/a>.<\/p>\n<p>\u201cChevron halted its last European fracking operations in February when it pulled out of Romania. Shell said it is cutting world-wide shale spending by 30% in places including Turkey, Ukraine and Argentina. Exxon has pulled out of Poland and Hungary, and its German fracking operations are on\u00a0hold.\u201d<\/p>\n<p>Though the fracking boom has taken off in the\u00a0<span class=\"caps\">U.S.<\/span>\u00a0like no other place on Earth, the<span class=\"caps\">U.S.<\/span>\u00a0actually possesses less than 10 percent of the world\u2019s estimated shale reserves, according to The\u00a0Journal.<\/p>\n<p>Despite this resource allotment\u00a0discrepency,\u00a0the\u00a0<a href=\"http:\/\/www.desmogblog.com\/directory\/vocabulary\/5587\"><span class=\"caps\">U.S.<\/span>\u00a0Energy Information Administration (<span class=\"caps\">EIA<\/span>)<\/a>\u00a0recently revealed that only four countries in the world have produced fracked oil or gas at a commercial-scale: the\u00a0United States, Canada, China and\u00a0Argentina.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Shale Fail: Oil Majors Leaving Fracking Fields Across Europe, Asia With some analysts\u00a0predicting the global price of oil to see another drop, many oil majors have deployed their parachutes and jumped from thehydraulic fracturing (\u201cfracking\u201d)\u00a0projects rapidly nose-diving across the\u00a0world. As The Wall Street Journal recently reported, the unconvetional shale oil and gas boom is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[3903,195,200,1519,4033,1729,723],"class_list":["post-6741","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-bankruptcies","tag-debt","tag-default","tag-fracking-boom","tag-fracking-bust","tag-oil-and-gas-industry","tag-shale-oil"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6741","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6741"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6741\/revisions"}],"predecessor-version":[{"id":6742,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6741\/revisions\/6742"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}