Two stories of how to frack your friends & your enemy….
- Friends (and some unsuspecting folks too) of the fracking process got fracked with Cheap Money per this Bloomberg report…”But fracking wouldn’t have gained so much momentum so quickly without so many profligate lenders. It would have probably followed a slow, steady trajectory upward, with companies proving themselves to investors one at a time. As it was, the spigot of cash flooding into junk bonds, master limited partnerships and other energy investment vehicles was so great it enabled both stable and shaky companies to obtain easy financing. U.S. output of oil and natural gas swelled by 42 percent from 2008 to 2014, helping create a glut that eventually overwhelmed demand”.
- How to frack your own constituent: Arlington former council member was interviewed and obviously steered the reporter to a picture of a resident in his district…(me and Benzene).
Since this post is about two ways to get fracked through fracking, it is only fitting to end with this 2011 link with more spewing from this councilman who showed off his own conflict-of-interest (had his own gas drilling consulting website) the day he testified before the Ft Worth Gas Drilling Task Force. I was lucky to have been selected to counter his statements that day thanks to Lon Burnam.
- Councilman resigned under pressure
- Bloomberg report goes on to say,“But the pain of investment losses largely outweighed the positive effects as investors from Main Street to pensions and foundations lent piles of money to speculative energy companies that looked increasingly fragile”.
- Global ramifications in glut in oil FALL OUT that includes countries (not diversified from low oil pricing) hurting just to put food on the table
- Federal Government new Methane regulations trying to stem runaway Global Warming
- Chesapeake Energy’s high debt load dragging them into oblivion? (Arlington TX’s main driller)