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Author Topic: New Fracking Reports: Gas Bubble About To Bust Back to Topics
Eugenian

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Message Posted: Feb 20, 2013 10:09:06 PM

Two new fracking reports came out earlier this week, and they reveal some serious new cracks in the booming natural gas industry. Fracking, the drilling method that involves pumping a chemical brine underground, has already been linked to the risk of water contamination, significant methane gas leakage, and even earthquakes. The two reports add another angle of risk, making the case that the gas boom hides a financial bubble that is headed for a bust of epic proportions.
Visit CleanTechnica for full article
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drpepperTX
Champion Author Texas

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Message Posted: Feb 22, 2013 12:38:42 AM

Fantastically well stated A_NY_Outlaw.
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Vette1967
Champion Author Albany

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Message Posted: Feb 22, 2013 12:30:21 AM

Not unlike telling your child not to touch a hot stove to prove an obvious point.
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LilRedWagonIN
Champion Author Indiana

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Message Posted: Feb 22, 2013 12:24:32 AM

Flatulence.
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teafortwo
Champion Author Washington

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Message Posted: Feb 21, 2013 4:55:19 PM


Good post orphancarguyPE.

But let US not forget about the toxic chemical "secret" swill that will eventual migrate.
Both through fractures in the Earth and the crumbling, abandoned well structures.

The Industry accepts no responsibility for the health hazards they have set in motion.
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endymion
Champion Author New York

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Message Posted: Feb 21, 2013 4:30:02 PM

So financial engineering by the gas companies was behind the mergers and acquisitions in the industry...and fracking was the missing piece needed to justify the revenue projections.

Nothing new under the sun.

Hope the people who don't care about our drinking water were the ones who bought these tulip bulbs.
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A_NY_Outlaw
Champion Author Albany

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Message Posted: Feb 21, 2013 2:00:54 PM

That's a very good post orphancarguyPE. And one that people with any sense of common sense wouldn't be able to dispute. But that's where it all ends- the people who elected Obama and the Misfits into a second term don't possess common sense. Conservaties never have said that the boon would last forever, but to dismiss our reliance on gas and oil altogether in favor of wind and solar is ludicrous.

With the left, it's all about having more, working less and giving every imaginable rights to Illegal Immigrants. That, coupled with punishing those who achieve success. That's what they live for. So you see, you can put facts in front of the lefties and greenies all day long and it won't matter.
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PDQBlues
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Message Posted: Feb 21, 2013 10:50:51 AM


It does seem so much of the economy is built upon "bubbles". Be it the dot-com bubble, the housing bubble and now the fracking bubble. Those who got in early will cash out from the fools who get in late.
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orphancarguyPE
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Message Posted: Feb 21, 2013 9:58:20 AM

Well, if you want to believe in something, you likely will believe.

The anti-fracking people have ruined their case often by going overboard about things that turn out not to matter in the real world. Earthquakes? A misnomer, very minor variance by adding water to certain rock layers leading to minor minor slips. You need a sensitive seismograph to detect the difference. Damage=nil.

Pollution of aquifers? Not unless you do something damn stupid...but only people with a basic understanding of geology as it pertains to water, rock, sand, and petro-carbon layers going a few miles straight down will get it--that it is a basically silly concern unless you go out of your way to do something crazy and stupid. All these layers are quite a distance from each other.

The fracking fluid is another blind alley. The real problem is not the fluid, its the use of water in dry areas.

Now, overlooked are some really valid concerns amongst all the rhetoric--slow and certain leaking of methane far outside the actual well bore catchment area, via tiny fractures and perculations over time to the surface. But the biggest drawback is that it is going to be very expensive in time, labour and capital. Instead of producing for decades as in conventional well resources, fracking starts off big and immediately starts to decline in output--your biggest output is the day the production starts. The average declines are running aboutv 38% per year, with some plays in the 80% per year range. So, after a year or two, the well is done effectively and you have to drill again, so the cost of a $10 million well is stranded, and another $10 million is spent, which will also be stranded in 1.5-2.5 years. Its not like drill and sit back drinking mint juleps on the front porch for a few decades as in conventional oil and gas, its drill one day, and start over again tomorrow--forever--to maintain the flow, not even make it grow--just to maintain it at a plateau of production.

Lots of oil and gas out there to be had by fracking. It just won't be the low-cost bonanza good for a 100 years or more that some people are still thinking.

[Edited by: orphancarguyPE at 2/21/2013 10:01:54 AM EST]
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Radar1992
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Message Posted: Feb 21, 2013 6:41:21 AM

This is from Cleantechnica....obviously a far and balanced organization....(sarcasm intended)....
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lippoe_sokan
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Message Posted: Feb 21, 2013 1:58:25 AM

Hard to see this coming, wasn't it? (no!)
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goldrose1
Champion Author Cleveland

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Message Posted: Feb 21, 2013 1:46:05 AM

This can't be good.
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NOTSOGRN
Champion Author Michigan

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Message Posted: Feb 21, 2013 1:44:47 AM

.
.
Aaaw shucks...I might have believed it weren't for:
"The following are just some of the indications that we are a top site to follow or reference for cleantech news, facts, or commentary:

We were featured on CNBC for one of the videos in CNBC and Harvard Business Review’s “Energy Opportunities” series. (Site director/editor Zachary Shahan was interviewed in CNBC’s London studios for this video.)
We won TreeHugger‘s 2011 Best of Green Reader’s Choice Award for Best Sci-Tech blog.
We consistently rank near or at the top of Technorati’s “Top Green Blogs” ranking."
.
Rolling Stone as a source...


[Edited by: NOTSOGRN at 2/21/2013 1:52:48 AM EST]
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jimgraham
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Message Posted: Feb 21, 2013 1:27:07 AM

Can we be so lucky that all the speculators and "investment bankers" will lose their shirts when it happens??
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dodsworth
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Message Posted: Feb 21, 2013 1:23:12 AM

Interesting, but the environmental risks were enough for me.
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iFueler
Champion Author Durham

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Message Posted: Feb 21, 2013 1:03:47 AM


this will play out over time - pun intended
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kkimes
Champion Author Illinois

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Message Posted: Feb 21, 2013 12:53:58 AM

I hate to say 'I told you so', but ....
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drpepperTX
Champion Author Texas

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Message Posted: Feb 21, 2013 12:26:27 AM

CleanTechnia, LOL!
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WanderDan
All-Star Author Dayton

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Message Posted: Feb 21, 2013 12:26:16 AM

the buffoons will just call it all a lie!
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cheapchickKY
Champion Author Lexington

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Message Posted: Feb 21, 2013 12:19:07 AM

Not a fan of fracking.
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Amplion
Champion Author Oregon

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Message Posted: Feb 21, 2013 12:08:16 AM

We just had another N.G. disaster !!!!

N.G. IS JUST PLAIN UNSAFE !!!
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mia3bxs
All-Star Author Miami

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Message Posted: Feb 21, 2013 12:06:53 AM

This is really going to get interesting.
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andy1024
Champion Author Allentown

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Message Posted: Feb 20, 2013 11:37:03 PM

Opinions on Fracking are quite polarized.
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Joeski1
Champion Author New Jersey

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Message Posted: Feb 20, 2013 10:56:16 PM

Kaaa boom!

break open the wallets and pocketbooks....
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MidNJ
Champion Author New Jersey

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Message Posted: Feb 20, 2013 10:45:35 PM

Yep, bubbles do bust.
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Carol7777
Champion Author Houston

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Message Posted: Feb 20, 2013 10:43:37 PM

If fracking is really as bad as all this, can they change the chemicals used or alter the methods to reduce or eliminate these problems? Or will this drilling method just implode on itself?
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mikaye
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Message Posted: Feb 20, 2013 10:38:50 PM

not suprising
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drobbbb
Champion Author Maryland

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Message Posted: Feb 20, 2013 10:29:59 PM

this ought to be interesting
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bojiway1
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Message Posted: Feb 20, 2013 10:15:25 PM

Who paid for the study
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JeffersonState
All-Star Author Oregon

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Message Posted: Feb 20, 2013 10:10:55 PM

It had to happen with the rush to pump without good scientific study of the consequences.
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