Posted by Big Gav in shale oil
CleanTechnica has a look at the headwinds facing the shale oil industry - The Fracking Chickens Are Coming Home To Roost. Grist has a similar artice - Fracking frenzy slows as oil and gas assets plummet in price.
This won’t be the first time we’ve heard whispers of impending doom for the natural gas fracking industry, but since this one is coming from Bloomberg it’s probably worth a listen, so here’s the deal. Yesterday, Bloomberg reported that the boom in gas field purchasing from 2009 to 2012 has turned into a whopper of a bust, leaving oil and gas companies with a belly load of depressed assets and “disappointing” wells to go with falling gas prices.