More quakes rock Oklahoma. Is fracking to blame?/CSM

[Tierra_y_Libertad]

But, gas is cheaper....ain't that swell?

http://www.csmonitor.com/USA/USA-Update/2016/0107/More-quakes-rock-Oklahoma.-Is-fracking-to-blame

In April, the OGS said most of the state's recent earthquakes were caused by the injection of wastewater from oil and natural gas drilling operations Earth, which has become increasingly common in recent years.

State seismologist Richard D. Andrews and Dr. Austen Holland said at the time the earthquakes "are very unlikely to represent a naturally occurring process” with data indicating the number of earthquakes were probably linked to drilling.

In 2013, Oklahoma experienced 109 earthquakes at more than magnitude-3. By 2014, that number increased fivefold to 585, while in 2015 the number of earthquakes further increased, the OGS said.

Geologists said before 2009, the state historically averaged 1.5 earthquakes of magnitude-3 or greater each year, and is now experiencing 2.5 earthquakes of the same magnitudes each day.

[Buzz Clik]

1. The problem is not fracking at all. Never was.

It's deep well injection of waste water.

The difference isn't subtle.

[Tierra_y_Libertad]

2. Apparently, OGS thinks it is.

According to the Oklahoma Geological Survey (OGS), the magnitude-4.8 quake was the fourth strongest on record in Oklahoma, a state that has seen a rash of earthquakes since it began allowing hydro fracturing.

[Buzz Clik]

4. No, that was the CSM author who said that.

Read your own article:

the OGS said most of the state's recent earthquakes were caused by the injection of wastewater from oil and natural gas drilling operations Earth

[earthside]

3. The economic earthquake, too.

The ponzi schemes that have financed fracking is hitting us right now.

[Buzz Clik]

5. Nonsense. There is no natural gas "ponzi scheme."

[earthside]

6. Earthquake happening now.

We may be headed for a deflationary spiral in large part because of the cost of fracking.

Moody’s sounds alarming bell over junk bonds issued by commodity companies
MarketWatch - Dec 2, 2015

U.S. Oil Industry Has A Big 'Zombie' Problem
Fortune/Reuters DECEMBER 10, 2015

The slump has created dozens of oil and gas “zombies,” a term lawyers and restructuring advisers use to describe companies that have just enough money to pay interest on mountains of debt, but not enough to drill enough new wells to replace older ones that are drying out.

Though there is no single definition of a zombie, most investors and analysts consulted by Reuters say they tend to have exceptionally high debt loads and face the prospect of shrinking oil reserves.

To stay alive, zombie companies have curbed costly drilling and are using revenue from existing production to pay interest and other expenses in a process some describe as “slow-motion liquidation.”

Bankruptcies and defaults loom because the cutbacks in new drilling have been so deep that many companies risk getting caught in a vicious circle of shrinking oil reserves, falling revenue and declining access to credit, experts say. ...

[Buzz Clik]

7. Ponzi, zombie. Close enough.

[earthside]

8. Yup.