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Tag Archives: Fracking

  • Blog

    Bizarro World: The Herd Has Truly Gone Mad

    You're not crazy. The world we now live in is.
    by Adam Taggart

    Friday, July 5, 2019, 4:02 PM

    28

    Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one. ~ Charles Mackay (1841) Like me, you may often feel gobsmacked when looking at the world around you. How did things get so screwed up?…

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  • Podcast

    Bethany McLean: Saudi America

    The truth about fracking & how it's changing the world
    by Adam Taggart

    Friday, March 1, 2019, 1:37 PM

    6

    For years now we've been covering the false promise of the American shale oil “miracle”.

    Yes, it has extracted a lot more oil out of American soil that most thought possible. But at an economic loss. And at great environmental cost.

    If the shale drilling companies can't make any profit, either when oil prices are high or low — why are we still pursuing shale deposits so aggressively?

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  • Blog
    Shutterstock

    The Shale Oil Revolution Actually Reflects a Nation in Decline

    Faster consumption + no strategy = diminished prospects
    by Chris Martenson

    Friday, January 11, 2019, 4:48 PM

    11

    For several decades now the US has been getting its energy policy very badly wrong.  It's so short-sighted, and rely so heavily on techno-optimism, that it barely deserves to be called a 'policy' at all. 

    Which is why we predict that in the not-too-distant future, this failure to plan will attack like a hungry wolfpack to bite down hard on the US economy’s hamstrings and drag it to the ground.

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  • Blog
    change.org

    Running Out Of Room

    No energy = no goods and services = no economy
    by Chris Martenson

    Thursday, November 2, 2017, 12:02 AM

    69

    The idea of an 'industrial economy' is an extremely recent human invention. And we’ve staked quite a lot on its continuation.

    But it faces a massive predicament: It’s running out of resources.

    When talking about the “economy”, we're really referring to the flow of goods and services — which are themselves entirely dependent on energy. No energy = no goods and services = no economy. It’s really that simple.

    So to track where we are in this story, put on your ‘energy goggles’. If you do, you can discover quite a lot.

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  • Insider
    change.org

    Running Out Of Room

    No energy = no goods and services = no economy
    by Chris Martenson

    Tuesday, October 24, 2017, 2:58 PM

    25

    The idea of an 'industrial economy' is an extremely recent human invention. And we’ve staked quite a lot on its continuation.

    But it faces a massive predicament: It’s running out of resources.

    When talking about the “economy”, we're really referring to the flow of goods and services — which are themselves entirely dependent on energy. No energy = no goods and services = no economy. It’s really that simple.

    So to track where we are in this story, put on your ‘energy goggles’. If you do, you can discover quite a lot.

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  • Insider
    Paisan Changhirun/Shutterstock

    Off the Cuff: The Great Global Economic Slowdown

    Growth is slowing down everywhere
    by Adam Taggart

    Friday, April 3, 2015, 5:57 AM

    4

    In this week's Off the Cuff podcast, Chris and Mish Shedlock discuss:

    • Economic Slowdown
      • Economic growth is fast disappearing all across the world
    • The Evils Of The Banking System
      • Corrupt & corrupted; we need a return to old-school fiduciary stewardship
    • Chicago Blues
      • A case study for the fraud & rot soon to appear in cities across the US
    • Fracking's Legacy
      • From poisoned water tables to earthquakes
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  • Blog
    Oleksii Sergieiev | Dreamstime.com

    The Dangerous Economics of Shale Oil

    Today's lower prices will kill the shale 'miracle'
    by davefairtex

    Tuesday, December 23, 2014, 7:31 PM

    16

    For years, we've been warning here at PeakProsperity.com that the economics of the US 'shale revolution' were suspect. Namely, that they've only been made possible by the new era of 'expensive' oil (an average oil price of between $80-$100 per barrel). We've argued that many players in the shale industry simply wouldn't be able to operate profitably at lower prices.

    Well, with oil prices now suddenly sub-$60 per barrel, we're about to find out.

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  • Blog
    E_K/Shutterstock

    2014 Year in Review

    The year we piled up risks like a global game of Tetris
    by David Collum

    Friday, December 19, 2014, 4:27 PM

    33

    I have not seen a year in which so many risks—some truly existential—piled up so quickly. Each risk has its own, often unknown, probability of morphing into a destructive force. Groping for a metaphor—I love metaphors and similes—I feel like we’re in the final throes of a geopolitical Game of Tetris as financial and political authorities race to place the pieces correctly. But the acceleration is palpable. The proximate trigger for pain and ultimately a collapse can be small, as anyone who’s ever stepped barefoot on a Lego knows.

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  • Insider
    Stepan Kapl/Shutterstock

    The Destruction That Awaits

    The ponzi elements of the shale story start to implode
    by davefairtex

    Wednesday, December 17, 2014, 3:30 AM

    0

    Executive Summary

    • Predicting when US shale oil production will peak
    • Why these lower oil prices *must* result in substantially lower US shale production
    • How the 'shale miracle' indeed has numerous ponzi elements that are on the brink of collapsing
    • Expect a tsunami of shale bankruptcies to arrive soon

    If you have not yet read Part 1:The Dangerous Economics of Shale Oil available free to all readers, please click here to read it first.

    Predicting The Peak

    Now we expand our focus from one hypothetical producer, to one actual shale region: the Bakken, located in North Dakota. My key source of information about the Bakken region is the Department of Mineral Resources in North Dakota. Every month the Director (Lynn Helms) produces the “Director's Cut”, a just-the-facts summary of oil production in North Dakota. Yes, it really is called the Director's Cut.

    Regional data provided by EIA is smoothed and massaged and – less useful for seeing what is going on at the point of the spear. So knowing now about how all the parts of the shale operation works, we can use the Director's Cut stats to track all the stages of producing oil. We have, in order of execution:

    • drilling permits

    • rig counts

    • wells awaiting completion

    • well counts

    • monthly production

     

    In other words, before you can drill, you need …

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  • Blog
    Michael Wick/Shutterstock

    The Dangerous Economics of Shale Oil

    Why the recent oil price drop is so vicious to shale
    by davefairtex

    Wednesday, December 17, 2014, 2:58 AM

    0

    With the recent free-fall in the price of oil, an increasingly asked question is: What impact will these lower prices have on America's production of shale oil?

    If we just look at the income statements they file with the SEC, it's difficult to determine if the current raft of shale companies are engaged in a profitable enterprise. Intuition tells us something is probably wrong, and smart people we trust mutter about cash flow and talk about a ponzi scheme, but how can we know for sure?

    Can shale oil be profitable at all? If so, at what price? And under what conditions?

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