Appalachian Fracking Boom Was a Jobs Bust, Finds New Report
By Nick Cunningham, DeSmog Blog
The decade-long fracking boom in Appalachia has not led to significant job growth, and despite the region’s extraordinary levels of natural gas production, the industry’s promise of prosperity has “turned into almost nothing,” according to a new report.
Whistleblower Accuses Exxon of ‘Fraudulent’ Behavior for Overvaluing Fracking Assets For Years
By Nick Cunningham, DeSmog Blog
ExxonMobil announced a $19.3 billion write-down on Tuesday, a big hit to a company reeling from depressed oil and gas prices and a rapidly changing global energy market.
Washington State Considers Climate Impact of Major Petrochemical Plant With ‘Pattern of Influence Peddling’
By Nick Cunningham, DeSmog Blog
In 2014, a company named Northwest Innovation Works (NWIW) proposed building a multi-billion-dollar petrochemical project in Kalama, Washington, a port town roughly 40 miles north of Portland, Oregon.
‘Uninsurable and Unhedgeable’: Central Banks Warn of Financial Crisis from Climate Change
By Nick Cunningham, DeSmog Blog
A future climate disaster, or “green swan” event, could bring down the global financial system, according to a new report from the Bank for International Settlements (BIS), an international financial organization that serves as a bank for central banks around the world.
Argentina Wants a Fracking Boom. The US Offers a Cautionary Tale
By Nick Cunningham, DeSmog Blog
In Argentina, Vaca Muerta is treated as the country’s chance at salvation, with fracking seen as doing everything at once — creating jobs, reducing the debt burden, plugging the energy deficit and turning Argentina into a major player on the global oil and gas stage.
U.S. Shale Has A Glaring Problem
By Nick Cunningham, oilprice.com
A new report from the Institute for Energy Economics and Financial Analysis (IEEFA) and the Sightline Institute detail the "alarming volumes of red ink" within the shale industry.
Why Is The Shale Industry Still Not Profitable?
By Nick Cunningham, oilprice.com
Riyadh-based Al Rajhi Capital dug into the financials of a long list of U.S. shale companies, and found that “despite rising prices most firms under our study are still in losses with no signs of improvement.”
How EIA Guestimates Keep Oil Prices Subdued
By Nick Cunningham, oilprice.com
The EIA has once again undercut its previous estimates for U.S. oil production, offering further evidence that the U.S. shale industry is not producing as much as everyone thinks.