Will the Fracking Revolution Peak Before Ever Making Money?
By Justin Mikulka, DeSmog Blog
When DeSmog first began reporting on the failed finances of the fracking industry, publications like the Wall Street Journal were writing about the optimistic financial future for shale companies. A year and a half later, that optimism has died. But all of these dynamics played out before the industry ran up against “core operational issues.”
Bleak Financial Outlook for US Fracking Industry
By Justin Mikulka, DeSmog Blog
After years of patience as the fracking and tar sands industries continued to pile up losses, investors are understandably tired of losing money.
‘Bomb Trains,’ a New Book on the Deadly, Ongoing Threat of Oil by Rail
By Justin Mikulka, DeSmog Blog
I lay out the whole damning history in this book. When the next oil train disaster strikes, we can't say we weren't warned.
It’s Time to Stop Calling Natural Gas a ‘Bridge Fuel’ to a Safe Climate, Says New Report
By Justin Mikulka, DeSmog Blog
Natural gas, marketed for years as a “bridge fuel” to cleaner energy sources, cannot be part of any climate solution, according to a new report from Oil Change International.
Warren Buffett, Fear, and Greed in Fracked Oil Fields
By Justin Mikulka, DeSmog Blog
Despite the U.S. fracking industry's history of “capital destruction,” one of the top investors in the world has bet big that Occidental holds the secret to Permian profits. But perhaps this time really will be different, or perhaps Occidental will follow in the footsteps of Halcón and others who bet it all on the Permian and lost.
Chevron and Exxon Say They Can Turn Around the Failed Finances of Fracking Industry
By Justin Mikulka, DeSmog Blog
Why would major oil companies choose to invest in an industry that has failed to turn profits in the past decade?
What Norway’s Big Divestment Decision Means for Fracking, Tar Sands and Global Oil Exploration
By Justin Mikulka, DeSmog Blog
Norway’s sovereign wealth fund — a state-owned investment fund worth approximately a trillion dollars — recently announced it was divesting from oil and gas exploration companies around the world. Not surprisingly, many oil and gas stocks declined following the announcement.
Fracking 2.0 Was a Financial Disaster, Will Fracking 3.0 Be Different?
By Justin Mikulka, DeSmog Blog
And the solution to fracking's profits problem — according to the likes of ExxonMobil — is Microsoft. Apparently cloud technology has been the missing ingredient in the Permian.