Fracking Market to Grow 19% to $37 Billion Worldwide in 2012

[ellisonz]

January 20, 2012, 12:03 PM EST

By Joe Carroll

(Updates with comment from Spears in fourth paragraph, company rankings in sixth paragraph.)

Jan. 19 (Bloomberg) -- The worldwide market for hydraulic fracturing is expected to expand 19 percent this year to a record $37 billion, one-third the pace of expansion in 2011, said Spears & Associates Inc.

In North America, which accounted for 87 percent of the fracking market last year, spending on the technique used to extract oil and natural gas from shale will top $30 billion in 2012, according to a slide presentation from Tulsa, Oklahoma- based Spears. The company advises about 400 oil producers, hedge funds, equipment providers and manufacturers on energy-industry trends.

The global fracking market grew by 63 percent in 2011 to $31 billion, Spears said. Fracking is the practice of pumping millions of gallons of high-pressure water, chemicals and sand underground to crack fissures in the rock so oil and gas can flow.

http://www.businessweek.com/news/2012-01-20/fracking-market-to-grow-19-to-37-billion-worldwide-in-2012.html

(Note - I think I'm 25 minutes over 12 hours - but believe this to be important)

[earthside]

1. The last throes of the fossil fuel industry.

If proof was needed of the end of the hydrocarbon age, fracking, tar sands and super deep water drilling are surely exhibits A, B and C.

The EROEI gets lower and lower ... the price gets higher and higher.

We have been on the plateau of oil production for about a decade and now we are probably on the edge of the final downturn.

Only reduced demand because of the recession has moderated prices somewhat.

[L. Coyote]

2. Don't Dring the Flammable Water

The cost of fracking will not be fully known for thousands and thousands of years.

[ellisonz]

3. Nope. One day soon the water will be more valuable than the hydrocarbons...

[BeHereNow]

4. I doubt the Mother will tolerate us much longer-

In order for the earth to continue sustaining life, one of two things must happen.

A complete "die-off" of the human species, which looks very possible at the rate we are going.

A complete refusal by the people, for the people, to allow this destruction.

The people responsible for this pillaging for profit, without regard for the consequneces
to life, should be charged in a world court for genocide.

BHN

[earthside]

5. Dieoff.org n/t

[BeHereNow]

7. Thanks! I used to follow LATOC

But I think it's been shut down.
BHN

[earthside]

9. Matt Savinar is now an astrologist.

The fellow that ran LATOC, did interviews on Coast-to-Coast and other radio shows ... a trained attorney and well-versed in science -- gave all that up to become an astrologer.

I hope the money is better.

[hunter]

6. This fracking "market" is bullshit.

They are drilling short-lived very dirty wells that will never pay back the last suckers who buy into them. The last players in this game will be left with nothing but a vast wreckage of stinking liabilities.

This is ENRON all over again, played on a larger scale by scumbags who plan to be sitting on the verandas of their safe-haven mansions pinching the asses of party girls and drinking piña coladas as their fracking poisons seep into your drinking water and your energy starved economy collapse around you.

[BeHereNow]

11. Actually Enron is one of the biggest players in the Fracking business.

They trade as EOG now.
And they are EVIL and in cahoots with Halliburton.
Imagine that.
http://www.eogresources.com/home/index.html
Big operations in the Bakken shale deposits.
Bastards, all of them.
BHN

[BeHereNow]

12. Areas of operation page:

http://www.eogresources.com/operations/division_operations.html

They have their filthy money grubbing fingers all over the place.

BHN

[Earth_First]

8. Not if I can help it!

Just got in from community education canvassing/petitioning.

Hands down a 3:1 support for a longer moratorium period in my local NYS community.

[ellisonz]

10. +1000

[BeHereNow]

13. Yes!

People are starting to wake up.
FINALLY.
BHN

[DCKit]

14. Augusta county VA told 'em to take a walk.

There were cheers. I don't even think most of the ppl saw "Gasland"... they just knew it was wrong.