Bleak Financial Outlook for US Fracking Industry

Investors giving up on fracking industry.

County Sustainability Group

Drilling rig at twilight

In early 2018 when major financial publications like the Wall Street Journal were predicting a bright and profitable future for the fracking industry, DeSmog began a series detailing the failing business model of fracking shale deposits for oil and gas in America.

Over a year later, the fracking industry is having to reckon with many of the issues DeSmog highlighted, in addition to one new issue — investors are finally giving up on the industry.

Billionaire oil CEO Harold Hamm — who has been touted as a “Shale King” — made comments this week reflecting how weak investment interest is in oil and gas fracking, going so far as to say that it wasn’t worth being a publicly traded company. “In today’s market, we don’t see a lot of value in it,” he said on his company’s earnings call.

A similar sentiment has appeared in The Financial Post, which this…

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3 thoughts on “Bleak Financial Outlook for US Fracking Industry

  1. Many people in Trumps america Have been arrested for protestin against Fracking and piplines. Fracking unleashes radioactive poisons into local water supplies.
    There have been successful antifracking protests in Pennsylvania. Recently the FBI, cops and corporate cops infiltrated an antipipeline group in Oregon that lead to areests of concerned respectable citizens. Just a few of the many civil liberties destroyed by Trump with many more threatened.

    The Ever-Tightening of The Noose . The Loss of Civil Rights under Trump in America

    1. The right to freedom of assembly. Pipeline and antifracking protestors arrested and charged . The freedom of assembly of antinuclear of protestors in the Nuclear subsidization debacle in Ohio with of reactors that are ready to blow. Protestors harrassed and thretened there.

    In California of the Diablo Canyon reactors after the earthquakes that damaged them.

    Harrassment of the antinuclear waste protestors in west texas that do not want 40 thousand tons of highlevel nuclear waste stored in thin huge skinned, damaged casks.

    2. Trump wants to completely censor any internet critical of himself. Trump Had Julian Assange arrested.

    3. Freedom of speech. Several internet sites have been censored badly or completely under Trump including Craigslist, News websites and several other websites. Trump threatens journalists and had Julian Assange arrested.
    Trump has openly encouraged proud boys and othe brownshirts to attack journalists and prodemocaracy activists.

    4. We know that mass surveilance started under Bush, has gotten worse under trump. Local police agencies routinely use networks to routinely monitor and harrass people. People have no say in the rollouts of more intrusive 5G technologies that are massive health hazards.

    5. The police are more militarized than ever. Profiling both racial and
    socially based is getting worse. More Intrusive recognition technology.

    6. More centralization of traditionally racist-political agencies like the FBI , DHS and their satellite agencies. Intelligence agencies like The CIA and NSA spy as much domestecally now under Trump than they did when the whole shitshow was started by the protofascist Bush with the Patriot act.

    7. Freedom of religion and a woman’s right to choose. More states are banning womens right to choose. Trump and Pence have openly stated their support of Federal laws banning women’s rights to choose.

    8. More loss of Relligious freedom, by allowing Trump and congress to harrass the anti-BDS members of congress . Trumps regime made flood and disaster victims pledge fealty to Israel before they could get FEMA funds

    9. Taxation without representation taxing the middle class to death while ending all taxation of Billionairs, Corporations and the top 10 percent.

    Trump eliminated federal tax breaks for middle class and other small-time property owners, at a time when property taxes are at an all time high in america and middle class-working people are struggling to survive.

    10. More taxation without representation Trump and its cronies have actively deregulated the nuclear and chemical poisoning industries, at the publics expense. They insure higher medical expenses and bailout expenses for industry at taxpayer expense.

    11. More military spening on useless nuclear weapons that poison its citizenry pf america

    CCAugust 16, 2019 at 6:01 PM
    12. Illegal subsidization of nuclear power plants on the brink of meltdowns.

    13. Much increased subsidization of the petroleum industries and petrochemical industries.

    14. Subsidization of huge monopolistic Agricultural and GMO companies through NAFTA and international tarrifs that hurt small farmers and help large Agricultural monopoplies.

    15. The Arrest of Julian Assange and tergeting of journalists by this lying fasicist president.

    16. The targeting of elected Cogresswomen for violence from Trumps fascist followers.

    17. The calling of violence against people of differing political opinions, teachers, women, people of different ethnic groups, disabled people, poor people, refugee children and calling for violence against them by this garbage mouthed lying fascist jerk and its violent followers.

    18. The weekly mass shootings by violent white supremacists that are openly given thumbs up by this violent, lying, openly racist garbage mouthed thing tjat is posing as a president

    19. Failure to insure and secure Voting integrity and Democratic Electikn Process.
    -More corporate and dark money in politics
    -Lack of voting intergrity in easily manipulated corporate electronic voting machines
    -More Gerrymandering
    -More purging and restrictions on who can vote with selective id laws

    20. Reinstitution of a Federal Death Penalty

    21. Several laws restricting citizens from sueing the federal government and corporations for federal and corporate malfeasance

    Like

  2. Excellent summary, Gloria. And excellent portrait of an empire in decline. I think we’ve reached the point where people will have to start collectively constructing their own reality and writing their own history.

    Like

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