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the frack thread
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BritDownUnder



Joined: 21 Sep 2011
Posts: 602
Location: Hunter Valley, NSW, Australia

PostPosted: Mon Nov 04, 2019 3:12 am    Post subject: Reply with quote

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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raspberry-blower



Joined: 14 Mar 2009
Posts: 1836

PostPosted: Mon Nov 25, 2019 1:58 pm    Post subject: Reply with quote

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.

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ReserveGrowthRulz



Joined: 19 May 2019
Posts: 405
Location: Colorado

PostPosted: Mon Nov 25, 2019 4:47 pm    Post subject: Reply with quote

raspberry-blower wrote:
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.


I remember when the US had peaked. And then Art Berman told us that fracking wouldn't work. And then we learned why you don't listen to geologists about the application and results of modern oil field drilling and completion techniques.

So now we have Saudi America, damn near energy independent at this point, world's largest oil, gas and agricultural exporter, and FINALLY the growth phase is over. Industry folks have certainly been talking, and reacting, to the end of the easy money growth phase.

The only question now is what level of activity will remain to fight the expected decline. Nice to see that things are progressing in the US about the same as they do during these cycles of development everywhere.
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