Jump to content




Welcome to Unexplained Mysteries! Please sign in or create an account to start posting and to access a host of extra features.


* * * * - 3 votes

The fracking bubble is about to burst


  • Please log in to reply
60 replies to this topic

#1    Br Cornelius

Br Cornelius

    Forum Divinity

  • Member
  • 11,469 posts
  • Joined:13 Aug 2008
  • Gender:Male
  • Location:Eire

  • Stupid Monkeys.

    Life Sucks.
    Get over it.

Posted 12 June 2013 - 04:46 PM

This article clearly lays out what I learnt from a few weeks of research into fracking, we are sitting on a bubble as significant as the housing crash which knocked us into a world recession;

http://www.voltairen...icle177874.html

Will you be caught in the fallout when the ponzi scheme collapses ?

Br Cornelius

I believe nothing, but I have my suspicions.

Robert Anton Wilson

#2    questionmark

questionmark

    Cinicus Magnus

  • Member
  • 36,211 posts
  • Joined:26 Jun 2007
  • Gender:Male
  • Location:Greece and Des Moines, IA

  • In a flat world there is an explanation to everything.

Posted 12 June 2013 - 05:03 PM

You mean that fracking so far has not earned a penny? well, how shocking..... if was lucrative to get that gas out of the ground they would have done it 50 years ago with the same stone age technology they are using now.

It was not lucrative then and it will not be 100 years down the road... it was just a brave new way for big oil and big coal to cash in a few more subsidies.

A skeptic is a well informed believer and a pessimist a well informed optimist
The most dangerous views of the world are from those who have never seen it. ~ Alexander v. Humboldt
If you want to bulls**t me please do it so that it takes me more than a minute to find out

about me

#3    Br Cornelius

Br Cornelius

    Forum Divinity

  • Member
  • 11,469 posts
  • Joined:13 Aug 2008
  • Gender:Male
  • Location:Eire

  • Stupid Monkeys.

    Life Sucks.
    Get over it.

Posted 12 June 2013 - 05:20 PM

Ponzi !!!!

Ask yourself. are you the mark ?

Who will pick up the bill when the whole **** heap comes crashing down ? Past experience suggests that the losses will be nationalized.

Br Cornelius

Edited by Br Cornelius, 12 June 2013 - 05:21 PM.

I believe nothing, but I have my suspicions.

Robert Anton Wilson

#4    questionmark

questionmark

    Cinicus Magnus

  • Member
  • 36,211 posts
  • Joined:26 Jun 2007
  • Gender:Male
  • Location:Greece and Des Moines, IA

  • In a flat world there is an explanation to everything.

Posted 12 June 2013 - 05:33 PM

View PostBr Cornelius, on 12 June 2013 - 05:20 PM, said:

Ponzi !!!!

Ask yourself. are you the mark ?

Who will pick up the bill when the whole **** heap comes crashing down ? Past experience suggests that the losses will be nationalized.

Br Cornelius

Don't worry none, your tax dollars will keep 'em rich....

A skeptic is a well informed believer and a pessimist a well informed optimist
The most dangerous views of the world are from those who have never seen it. ~ Alexander v. Humboldt
If you want to bulls**t me please do it so that it takes me more than a minute to find out

about me

#5    Doug1o29

Doug1o29

    Telekinetic

  • Member
  • 6,777 posts
  • Joined:01 Aug 2007
  • Gender:Male
  • Location:oklahoma

Posted 12 June 2013 - 07:12 PM

View PostBr Cornelius, on 12 June 2013 - 04:46 PM, said:

This article clearly lays out what I learnt from a few weeks of research into fracking, we are sitting on a bubble as significant as the housing crash which knocked us into a world recession;

http://www.voltairen...icle177874.html

Will you be caught in the fallout when the ponzi scheme collapses ?

Br Cornelius
However that may be, they're still fracking wells around here.  If fracking doesn't work, it will be gone before the public hears anything about it.

The Baaken burns off a huge amount of natural gas because they don't have pipelines to get it to market.

I don't think we can bury the US oil and gas boom just yet.
Doug

While we're citing stuff, can't you come up with some actual research on the subject?
Doug

Edited by Doug1o29, 12 June 2013 - 07:13 PM.

If I have seen farther than other men, it is because I stood on the shoulders of giants. --Bernard de Chartres
The beginning of knowledge is the realization that one doesn't and cannot know everything.
Science is the father of knowledge, but opinion breeds ignorance. --Hippocrates
Ignorance is not an opinion. --Adam Scott

#6    Br Cornelius

Br Cornelius

    Forum Divinity

  • Member
  • 11,469 posts
  • Joined:13 Aug 2008
  • Gender:Male
  • Location:Eire

  • Stupid Monkeys.

    Life Sucks.
    Get over it.

Posted 12 June 2013 - 07:29 PM

View PostDoug1o29, on 12 June 2013 - 07:12 PM, said:

However that may be, they're still fracking wells around here.  If fracking doesn't work, it will be gone before the public hears anything about it.

The Baaken burns off a huge amount of natural gas because they don't have pipelines to get it to market.

I don't think we can bury the US oil and gas boom just yet.
Doug

While we're citing stuff, can't you come up with some actual research on the subject?
Doug
The whole field is so shifty (with various Government complicity in not digging to deep) that there is almost nothing but analysis. The analysis in this article seems based on sound principles (ie short production cycles with high repeated capital investment, along with the dubious election of total reserves as the metric) and the numerous leaks from within the petroleum analysis industry and the financial industry that support exactly what has been written. the fact that one of the main operators is almost bankrupt should give us all pause for thought - with revenues in 2012 of $33billion against costs of $42Billion - not sustainable. This is a financial story more than anything else and has to be looked at in that way to understand what is coming down the tracks.

The first most of the public will know of this is when its reported on the morning news when the stock market plunges new lows based upon a major player going to the wall.

Br Cornelius

Edited by Br Cornelius, 12 June 2013 - 07:30 PM.

I believe nothing, but I have my suspicions.

Robert Anton Wilson

#7    Doug1o29

Doug1o29

    Telekinetic

  • Member
  • 6,777 posts
  • Joined:01 Aug 2007
  • Gender:Male
  • Location:oklahoma

Posted 12 June 2013 - 07:49 PM

View PostBr Cornelius, on 12 June 2013 - 07:29 PM, said:

the fact that one of the main operators is almost bankrupt should give us all pause for thought - with revenues in 2012 of $33billion against costs of $42Billion - not sustainable.
If you want to cash in on a boom, you have to drill (and frack) wells.  That's expensive.  When you have spent all available cash, you have to sell something or borrow funds to keep going.  It's well known that Chesapeake is in trouble - they invested too heavily in gas when they should have been in oil.  They donated a million dollars to tornado relief - people are asking who they borrowed it from.

Anyway, as long as they're drilling shale, we're going to have fracking.  I wouldn't start cheering just yet.
Doug

If I have seen farther than other men, it is because I stood on the shoulders of giants. --Bernard de Chartres
The beginning of knowledge is the realization that one doesn't and cannot know everything.
Science is the father of knowledge, but opinion breeds ignorance. --Hippocrates
Ignorance is not an opinion. --Adam Scott

#8    Br Cornelius

Br Cornelius

    Forum Divinity

  • Member
  • 11,469 posts
  • Joined:13 Aug 2008
  • Gender:Male
  • Location:Eire

  • Stupid Monkeys.

    Life Sucks.
    Get over it.

Posted 12 June 2013 - 08:28 PM

No one will be cheering when this one blows up.

Br Cornelius

I believe nothing, but I have my suspicions.

Robert Anton Wilson

#9    Myles

Myles

    Alien Abducter

  • Member
  • 4,818 posts
  • Joined:08 Jan 2007
  • Gender:Male

Posted 13 June 2013 - 03:43 PM

I also think some of the reason for the low natural gas prices is the clash with coal.   Since the price drop (along with new MACT standards for coal), a large number of plants have gone from burning coal to burning gas.   Heck, the place I work for used to burn 700 ton of coal per week.   We now rent a gas boiler for $35,000 a month and are still saving a million $$ a year.    We are small compared to power plants and other industries.   We process soybeans and make cooking oil.


#10    Rafterman

Rafterman

    Telekinetic

  • Member
  • 7,265 posts
  • Joined:27 Sep 2010
  • Gender:Male
  • Location:Upstate

Posted 13 June 2013 - 09:24 PM

From wiki:  "The Voltaire Network is made up of news agencies and newspapers from Latin America, Europe and the Arab World"

Can't imagine why that group would support an article that calls into question the idea of US energy independence.

And on top of it, the piece is written by a guy who has spent his entire career attacking the oil industry - particularly the US oil industry.  He's also a global warming denier - that generally discredits folks around here right?

I was impressed, though, that he waited until about 1/3 of the way to mention Dick Cheney and Halliburton.  Oh, and can we all agree that the whole "burning water" thing from Gasland is bull****.

"For me, it is better to grasp the Universe as it really is than to persist in delusion, however satisfying and reassuring."
                                                                                                                                           - Carl Sagan, The Demon-Haunted World:  Science as a Candle in the Dark

#11    Myles

Myles

    Alien Abducter

  • Member
  • 4,818 posts
  • Joined:08 Jan 2007
  • Gender:Male

Posted 13 June 2013 - 09:49 PM

Fracking is a hazard to the enviroment, there is no doubt about that.   The amount of water and chemicals pumped in and out of the operations is amazing.    Nasty stuff comes out and needs cleaned.  
I'm on the fence.    I love the affordable gas but I wouldn't want a fracking operation near me (unless it was my land).


#12    Br Cornelius

Br Cornelius

    Forum Divinity

  • Member
  • 11,469 posts
  • Joined:13 Aug 2008
  • Gender:Male
  • Location:Eire

  • Stupid Monkeys.

    Life Sucks.
    Get over it.

Posted 13 June 2013 - 10:09 PM

View PostRafterman, on 13 June 2013 - 09:24 PM, said:

From wiki:  "The Voltaire Network is made up of news agencies and newspapers from Latin America, Europe and the Arab World"

Can't imagine why that group would support an article that calls into question the idea of US energy independence.

And on top of it, the piece is written by a guy who has spent his entire career attacking the oil industry - particularly the US oil industry.  He's also a global warming denier - that generally discredits folks around here right?

I was impressed, though, that he waited until about 1/3 of the way to mention Dick Cheney and Halliburton.  Oh, and can we all agree that the whole "burning water" thing from Gasland is bull****.

No we can't :tu:

Everything in the articles has been discussed by oil analysis’s many times before - this article simply represents a nice summery. Fracking has dubious economics backing it with far to much capital investment to make it cost competitive. There is still plenty of cheaper conventional gas in production for unconventional gas to make economic sense. Energy independence at what cost?

Br Cornelius

Edited by Br Cornelius, 13 June 2013 - 10:09 PM.

I believe nothing, but I have my suspicions.

Robert Anton Wilson

#13    questionmark

questionmark

    Cinicus Magnus

  • Member
  • 36,211 posts
  • Joined:26 Jun 2007
  • Gender:Male
  • Location:Greece and Des Moines, IA

  • In a flat world there is an explanation to everything.

Posted 14 June 2013 - 12:56 PM

View PostMyles, on 13 June 2013 - 09:49 PM, said:

Fracking is a hazard to the enviroment, there is no doubt about that.   The amount of water and chemicals pumped in and out of the operations is amazing. Nasty stuff comes out and needs cleaned.  
I'm on the fence. I love the affordable gas but I wouldn't want a fracking operation near me (unless it was my land).

I will certainly not allow any fracking on my land.

A skeptic is a well informed believer and a pessimist a well informed optimist
The most dangerous views of the world are from those who have never seen it. ~ Alexander v. Humboldt
If you want to bulls**t me please do it so that it takes me more than a minute to find out

about me

#14    Myles

Myles

    Alien Abducter

  • Member
  • 4,818 posts
  • Joined:08 Jan 2007
  • Gender:Male

Posted 14 June 2013 - 12:59 PM

View Postquestionmark, on 14 June 2013 - 12:56 PM, said:

I will certainly not allow any fracking on my land.
I only said it because I'm sure you are compinsated very well and would want to move away. :yes:


#15    questionmark

questionmark

    Cinicus Magnus

  • Member
  • 36,211 posts
  • Joined:26 Jun 2007
  • Gender:Male
  • Location:Greece and Des Moines, IA

  • In a flat world there is an explanation to everything.

Posted 14 June 2013 - 01:02 PM

View PostMyles, on 14 June 2013 - 12:59 PM, said:

I only said it because I'm sure you are compinsated very well and would want to move away. :yes:

Well, I consider myself the guardian of my land for further generations... not as its owner.

A skeptic is a well informed believer and a pessimist a well informed optimist
The most dangerous views of the world are from those who have never seen it. ~ Alexander v. Humboldt
If you want to bulls**t me please do it so that it takes me more than a minute to find out

about me




0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users