[Peakoil] OIL AND GAS: Is U.S. shale facing an 'unmitigated disaster'? -- Thursday, September 19, 2019 -- www.eenews.net

[Antony Broughton Barry]

Quote: "The booming shale industry could be headed off a financial cliff, experts say, and environmental groups are asking who will clean up thousands of wells drilled miles beneath the surface if businesses go bust.

The meteoric rise of U.S. shale, driven by hydraulic fracturing, continues at a fast pace. Each year, operators bring in more barrels, pushing the United States further ahead of other nations for production.

But many observers say the shale business is overheating, as frackers try to keep up the pace of production at high costs and low oil prices. They are warning that Wall Street money is drying up, and that the rate of bankruptcies could climb dramatically."

https://www.eenews.net/stories/1061136849


Antony Barry
antonybbarry at me.com
Mob +61 433 652 400