All that media bullshit about US fracking boom was just hype to finance rip-off scams, soon leaving dead bankrupt wells, poisoned land and water and less and less loot for the scammers.
The US’s drive to become a top global oil and gas exporter by fracking has been blown wide open by a 96% write-down of California’s Monterey Shale – meant to hold two thirds of the US’s shale oil. How long before the whole enterprise is exposed as another monstrous Ponzi scheme?
The US oil industry is also due to spend $2.8 trillion by 2035 just to stay even whereas the Middle East will spend a third less, produce three times more in the same time.
“After years of talking about it, we are finally poised to control our own energy future.” Continue reading US Fracking to collapse ? – ecocidal Capitalist Scam Exposed
”Preventing climate breakdown – the four, five or six degrees of warming now predicted for this century by green extremists like, er, the World Bank, the International Energy Agency and PriceWaterhouseCoopers (1 , 2 , 3 , ) – means confronting the oil, gas and coal industry.”
The only realistic way to do this is by making further development unprofitable. This seems impossible, even if extraction were to be limited by a world agreement, scarcity would drive prices up and make evasion eminently profitable, to companies who are anyway more powerful than many nation states.
One step forward is the movement in the US for Disvestment by Companies, Universities and Local Administrations, as it becomes ever clearer that the future of the planet really is being destroyed. (See article HERE Campaign to de-Invest from Fossil Fuel Climate Criminals ) Continue reading Make them Leave it in The Ground: How We can Resist Climate Suicide