UK Ban Adds to the Tremors Taking Down the Fracking Industry

The dramatic decision by the British government to ban the disruptive technology of hydraulic fracturing (or fracking) is just one of two volatile storms now shaking the industry.

And both have ramifications for the governments of British Columbia and Alberta, which actively subsidize the uneconomic industry with tax breaks, royalty credits, free water and taxpayer-funded seismic research and monitoring.

UK Government Implements Fracking Ban – For Now

After seven years of promoting fracking, Conservative ministers have withdrawn their support and blocked the prospects of a shale gas industry.

The UK government has issued an immediate moratorium in England because of the risk of earth tremors. Governments in Scotland, Wales and Northern Ireland have already issued measures that amount to moratoriums on fracking.

Warren Buffett, Fear, and Greed in Fracked Oil Fields

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.

‘Insufficient,’ ‘Unknown,’ ‘Concerns’: BC’s Fracking Report Full of Apprehension

Although a government-commissioned scientific review of fracking in British Columbia released earlier this month occupies some 232 pages, the word “concerns,” as in “concerns regarding environmental impact,” pops up more than 130 times.

Uber, Lyft and oil frackers: Tech mirages, not real businesses

The main problems with tech mirages: 1) They destroy or undermine existing businesses, weakening them to the point where they collapse and then those tech mirages collapse themselves leaving society without the service supplied by the businesses they destroyed and/or 2) they distract from what we really need to do to adapt to the twin crises of climate change and resource depletion.

Fracked Shale Oil Wells Drying Up Faster than Predicted, Wall Street Journal Finds

But because shale drilling is relatively new, even the experts are left guessing about how much oil will be flowing from the wells 10, 20, or 30 years after fracking — and investors have become frustrated as shale drillers have largely failed to turn the corner and start racking up profits instead of continuing to operate in the red.