the frack thread

How will oil depletion affect the way we live? What will the economic impact be? How will agriculture change? Will we thrive or merely survive?

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Post by BritDownUnder »

I see an election coming up.

'Support' can probably be given back again a lot quicker than a ban can be un- banned.

I think when the power station gas turbines stop turning due to lack of gas (or actually low pressure - I have seen it happen) then the UK will be thinking about fracking again unless there are lots of renewables and nuclear to cover the gap.
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Post by raspberry-blower »

Wolf Richter: Fracking blows up investors again: Phase 2 of the Great American Shale Oil Bust

The conundrum in a nutshell:
Wolf Richter wrote: And it’s brutal on investors at prevailing prices. The industry has been cash-flow negative from get-go. The high prices of oil and gas the industry needs to be cash-flow positive are being prevented by prolific shale oil and gas production. Executive compensation packages have been self-designed to reward richly any increases in production, hence no-matter-what increases in production. And investors who believed the industry’s ceaseless hype are now grappling with reality – that their money was drilled into the ground and is gone.
A common mistake that people make when trying to design something completely foolproof is to underestimate the ingenuity of complete fools - Douglas Adams.
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