I believe it is a mistake, so do you and many others, but those with secret accounts in Bermuda, like the shareholders of Osborne & Little, G4S, Amazon, Google, Cuadrilla, BP, Shell, HSBC, Goldman Sachs, Monsanto, Facebook and many others really don’t. Until there is no more financial gain in it for them, they really don’t care.
Fracking will not be profitable until oil is north of $80/barrel, as the production cost is 5 to 7 times greater than Conventional Oil. Iran will be fighting for market share starting at 500k bpd and ramping up to 4 million bpd over the next few years with the new technology they want to upgrade their oil infrastructure. None of the other producers will cut production and surrender to Iran.
I am continually bemused by those who insist that “Fracking is safe because the petroleum industry funded evidence clearly proves it is? Either they are completely dimwitted or they have a motivation for spouting such misinformation, either way they need a firm rebuttal. The independent evidence speaks of terrible irreparable environmental damage once it goes wrong, and that does not include the pollution released from the fossil fuel products captured. I for one am neither prepared to accept the argument that it wont go wrong from those who have received an inducement to say so, or take the risk with my country, the plants and creatures in it are too precious to gamble away.
There is an old saying in the stock market, “the only emotion stronger than fear is greed.” It seems to hold true in industry as well. More stupid stuff happens because of greed than fear.
Art Hutchins says
I believe it is a mistake, so do you and many others, but those with secret accounts in Bermuda, like the shareholders of Osborne & Little, G4S, Amazon, Google, Cuadrilla, BP, Shell, HSBC, Goldman Sachs, Monsanto, Facebook and many others really don’t. Until there is no more financial gain in it for them, they really don’t care.
Alan Stainer says
There are a few names in that list I would disagree with, as the companies are openly going green and investing in green technologies.
Alan Stainer says
Well, as long as they don’t pay too much in taxes we’ll be fine. ;)
Mac Baird says
Fracking will not be profitable until oil is north of $80/barrel, as the production cost is 5 to 7 times greater than Conventional Oil. Iran will be fighting for market share starting at 500k bpd and ramping up to 4 million bpd over the next few years with the new technology they want to upgrade their oil infrastructure. None of the other producers will cut production and surrender to Iran.
delvita d Brumfield says
Stop fracking . It seems to be a horrible thing to do.
Art Hutchins says
I am continually bemused by those who insist that “Fracking is safe because the petroleum industry funded evidence clearly proves it is? Either they are completely dimwitted or they have a motivation for spouting such misinformation, either way they need a firm rebuttal. The independent evidence speaks of terrible irreparable environmental damage once it goes wrong, and that does not include the pollution released from the fossil fuel products captured. I for one am neither prepared to accept the argument that it wont go wrong from those who have received an inducement to say so, or take the risk with my country, the plants and creatures in it are too precious to gamble away.
Mac Baird says
There is an old saying in the stock market, “the only emotion stronger than fear is greed.” It seems to hold true in industry as well. More stupid stuff happens because of greed than fear.
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Jesse H says
Just come to Pennsylvania and take a look.