Shale Oil Ponzi

By | February 26, 2019
5 Comments

Great reports

 

Where are the largest shale oil fields?

 

https://www.fool.com/investing/2016/07/16/which-companies-are-the-biggest-shale-players-in-t.aspx

Category: Oil

5 thoughts on “Shale Oil Ponzi”

  1. 9Sigma Post author

    From pollution to sinkholes, the real cost of fracking will probably not be known till 20 or 30 years from now. But one thing is clear, that it is a dirty business. And more and more the large oil producers are trying to assure the public one way or another that “they care” and they are doing everything they can to do business the right way. One of these ways is handling the “polluted water” that is a product of the fracking process. They are spending about 35 billion dollars on this now according to Reuters’ article. And that is what is declared and dealt with. I would assume that probably it is twice as much and probably half the water is being “treated” the rest is being dumped somewhere and business as usual.

    https://www.reuters.com/article/us-usa-shale-water/wastewater-private-equitys-new-black-gold-in-u-s-shale-idUSKCN1QZ0B6

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  2. 9Sigma Post author

    Here is “reality” coming out slowly.
    https://oilprice.com/Energy/Oil-Prices/Expect-Higher-Oil-Prices-As-OPEC-Clashes-With-Trump.html
    Shale to hit 13 mm/day to stop. Pollution becoming an issue. I think they just do not want to admit to quality issues that has been known for a while, namely that the oil is too heavy for even local refineries to take it. Yet another attempt to sell others crap that we do not want and they are realizing they do not either.

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