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bucolic_frolic

(54,812 posts)

9. Throwing money down a rathole - the fracking industry is going extinct

Tue Mar 10, 2020, 05:47 PM

Mar 2020

Oil may never again trade for prolonged periods above $50 a barrel, which is where it becomes profitable for frackers.

This is just wasted money, using the government to intervene and pick winners (theirs).

Why are Russia and the Saudis pumping like crazy? Use it or lost it. Monetize oil in the ground now, or lose it forever when alternative energy is 80% of energy production.

I'll call it. Fracking is going extinct.

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White House likely to pursue federal aid for shale companies hit by oil shock, coronavirus downturn [View all] gristy Mar 2020 OP

Priorities! Newest Reality Mar 2020 #1

I think I read it somewhere... OldBaldy1701E Mar 2020 #42

If they do that, with all other industries and people... Under The Radar Mar 2020 #2

Oh great for heavens sake bail out those rich oil companies! redstatebluegirl Mar 2020 #3

We have to stop propping up the fossil fuel industry. That's socialism. rickyhall Mar 2020 #4

Socialism for the wealthy. Disaster capitalism for the rest. n/t MarcA Mar 2020 #5

You beat me to it and said it better. keithbvadu2 Mar 2020 #6

Thanks. MarcA Mar 2020 #7

Oil well's don't call in sick.....................they are more important................. turbinetree Mar 2020 #8

Throwing money down a rathole - the fracking industry is going extinct bucolic_frolic Mar 2020 #9

Alternative energy is so far from 80% it's not even funny ... nor will it ever be anywhere near that mr_lebowski Mar 2020 #32

Your prediction and my prediction don't match bucolic_frolic Mar 2020 #33

Yup, we're right on track, racing up to 80% ... mr_lebowski Mar 2020 #35

heres the thing rdking647 Mar 2020 #38

Corruption rockfordfile Mar 2020 #10

Because of course! LittleGirl Mar 2020 #11

UNFUCKINGBELIEVABLE bluestarone Mar 2020 #12

Unfrackingbelievable! truthisfreedom Mar 2020 #27

Let them go bankrupt! Lonestarblue Mar 2020 #13

these companies make millions MissMillie Mar 2020 #14

You misspelled trillions rickford66 Mar 2020 #29

Most of the shale companies are in debt up to their eye balls HarlanPepper Mar 2020 #37

Propping hydrocarbons is so 1973. Peak oil is past. Demand will drop even with high supply. . . . nt Bernardo de La Paz Mar 2020 #15

Welfare for Trump Towers and resorts! McCamy Taylor Mar 2020 #16

Right...another welfare check to the corporations. TwistedTinkerbelle Mar 2020 #17

that sounds like socialism ibegurpard Mar 2020 #18

Corporations are people too Traildogbob Mar 2020 #19

Question AC_Mem Mar 2020 #20

yes, good questions gristy Mar 2020 #22

Dump is counting on YUGE revenue-generating economic growth as America has never been seen before. Eugene Mar 2020 #30

I think Cheney made two rules for the fracking industry mountain grammy Mar 2020 #21

Next we'll have empty store shelves, canceled events, panic and fear, IronLionZion Mar 2020 #23

Bizarro Socialism. dchill Mar 2020 #24

theres a good logical reason to aid the oil companies rdking647 Mar 2020 #25

Fine ... NATIONALIZE the fuckers then (nt) mr_lebowski Mar 2020 #34

time for house democrats to play hardball beachbumbob Mar 2020 #26

Corporate socialism. truthisfreedom Mar 2020 #28

Phuck the oil companies!! Jeez. Why do we subsidize these AllyCat Mar 2020 #31

just reduce their taxes Demonaut Mar 2020 #36

Another stack of welfare checks made out to "Too Big To Fail"... nt Progressive Jones Mar 2020 #39

Let them eat cake. BlueIdaho Mar 2020 #40

Democracy ended with the failed impeachment of a russian stooge... olddad65 Mar 2020 #41