
U.S. Fracking Industry Continues to Boom on Higher Productivity
Despite $225 billion in secured debt and prices collapsing by 55 percent, the oil fracking industry continues to boom due to rapidly increasing productivity.

Despite $225 billion in secured debt and prices collapsing by 55 percent, the oil fracking industry continues to boom due to rapidly increasing productivity.

The final version of the California Council on Science & Technology study required under interim approval of hydraulic fracturing in the Golden State just reported that despite public concerns, there is no “science-based evidence” that fracking hurts the environment.

With every OPEC member now at a higher break-even cost than the U.S., it is OPEC members that are at risk of being bankrupted in the second wave of the U.S. oil boom.

The global shock from the release of the U.S. Environmental Protection Agency (EPA) long-postponed draft report stating that hydraulic fracturing (fracking) has not had a “widespread, systemic impact on drinking waste” caused “cheap” natural gas prices to collapse another 16 percent.