The downside of this is the inevitable abandonment to their fate of the fracking wells already drilled in the USA and the toxic landscape left for the unfortunate residents there; also, the vast amounts of methane which will flow unchecked into our atmosphere :-( Fracking must not be allowed to get its bits in the ground here!!!!.... Quote:There are now fears that many fracking operations may default on an estimated $200bn of borrowings, raised mainly through bonds issued on Wall Street and in the City of London. In turn, this could lead to a collapse in global financial markets similar to the 2008 crash. There are also questions about just how big existing shale oil and gas reserves are, and how long they will last. A recent report by the Post Carbon Institute, a not-for-profit thinktank based in the US, says reserves are likely to peak and fall off rapidly, far sooner than the industry’s backers predict. theguardian/environment/2015/jan/06/oil-price-casts-shadow-over-frackings-future
Posted on: Tue, 06 Jan 2015 19:44:12 +0000
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