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Old 03-22-2019, 03:23 AM
 
Location: Switzerland/Ticino
272 posts, read 77,921 times
Reputation: 122

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What Norway’s Big Divestment Decision Means for Fracking ?

It appears it’s just cutting its losses on money-losing endeavors like fracking in America, tar sands oil production in Canada, and frontier exploration by UK companies in Africa and South-East Asia.

What that translates to in America is essentially a divestment from the shale oil and gas producers like EOG Resources, Apache, Continental, Diamondback, and Chesapeake. Apparently, the fund managers are tired of losing money on fracked oil and gas.




The move certainly comes at a bad time for the American fracking industry. Their previously endless supply of loans from Wall Street has also started to dry up, leading to budget cuts, layoffs, and reduced oil production.

https://srsroccoreport.com/u-s-shale...failure-ahead/


U.S. SHALE OIL INDUSTRY: Catastrophic Failure Ahead


https://srsroccoreport.com/exxonmobi...s-bottom-line/


EXXONMOBIL U.S. OIL & GAS FINANCIAL TRAIN-WRECK: Producing Shale Is Destroying Its Bottom Line






What is clear is the huge amount of debts ( 300 bilions dollars) that will never paid back... after the great vawe of Shale oil company bankrupticies..

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Old 03-22-2019, 09:02 AM
 
Location: Washington State
18,548 posts, read 9,592,797 times
Reputation: 15793
Quote:
Originally Posted by asiago12 View Post
What Norway’s Big Divestment Decision Means for Fracking ?

It appears it’s just cutting its losses on money-losing endeavors like fracking in America, tar sands oil production in Canada, and frontier exploration by UK companies in Africa and South-East Asia.

What that translates to in America is essentially a divestment from the shale oil and gas producers like EOG Resources, Apache, Continental, Diamondback, and Chesapeake. Apparently, the fund managers are tired of losing money on fracked oil and gas.




The move certainly comes at a bad time for the American fracking industry. Their previously endless supply of loans from Wall Street has also started to dry up, leading to budget cuts, layoffs, and reduced oil production.

https://srsroccoreport.com/u-s-shale...failure-ahead/


U.S. SHALE OIL INDUSTRY: Catastrophic Failure Ahead


https://srsroccoreport.com/exxonmobi...s-bottom-line/


EXXONMOBIL U.S. OIL & GAS FINANCIAL TRAIN-WRECK: Producing Shale Is Destroying Its Bottom Line






What is clear is the huge amount of debts ( 300 bilions dollars) that will never paid back... after the great vawe of Shale oil company bankrupticies..


SRSrocco report seems to be mostly "the sky is falling" always reporting. It looks legit but I have my doubts just from reading a few of their articles. I'm not dismissing this but highly skeptical of this negative spin type articles.
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Old 03-22-2019, 11:17 AM
 
Location: State of Transition
78,752 posts, read 70,607,687 times
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Fracking is highly problematic, anyway. So, get ready for higher gas prices, but less risk to potable water supplies, fewer earthquakes in Oklahoma. Perhaps more investment in renewables? Has anyone noticed, that auto manufacturers are developing fuel cell cars, to come available in a couple of years? I wonder how that will work out.
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Old 03-23-2019, 01:13 AM
 
Location: Switzerland/Ticino
272 posts, read 77,921 times
Reputation: 122
Quote:
Originally Posted by Ruth4Truth View Post
Fracking is highly problematic, anyway. So, get ready for higher gas prices, but less risk to potable water supplies, fewer earthquakes in Oklahoma. Perhaps more investment in renewables? Has anyone noticed, that auto manufacturers are developing fuel cell cars, to come available in a couple of years? I wonder how that will work out.

I don't have much faith in electric cars...Too problematic the charge and too expensive the battery.


I would like to know where the price of the litium (or Others minerals ) will go when the cars with an electric motor will triple..( that is still a small fraction of the total number of cars )



I have some confidence in hybrid cars...but what it is sure hybrid cars will be Always much more expensive than engine combustion cars..
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Old 03-23-2019, 01:14 AM
 
Location: Switzerland/Ticino
272 posts, read 77,921 times
Reputation: 122
Quote:
Originally Posted by Tall Traveler View Post
SRSrocco report seems to be mostly "the sky is falling" always reporting. It looks legit but I have my doubts just from reading a few of their articles. I'm not dismissing this but highly skeptical of this negative spin type articles.

But you can't deny that shale oil business is still really an economic disaster..
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Old 03-23-2019, 01:35 AM
 
Location: Switzerland/Ticino
272 posts, read 77,921 times
Reputation: 122
Amid hype that these expensive, battery-operated cars are the vanguard of a fossil fuel-free age, their cold-weather shortcomings reinforce their image as a subsidized toy for the rich.
As temperatures plummeted into the -20s and -30s across the Midwest, Tesla owners discovered their car’s travel range had sharply decreased. And its interior would not warm up. Some owners weren’t even able to open the car door because its electric entry mechanism froze up.
These owners had spent between $80,000 and $140,000 for a vehicle that locks them out in cold weather. Yet they also received a $7,500 tax break when buying what is still an expensive, experimental toy.
Nissan Leaf and Chevrolet Bolt owners experienced similar problems.
A 2014 AAA study found even moderate cold weather would reduce electric
vehicle range by an average of 57 percent. The study found that average
battery range was 105 miles at 75 degrees Fahrenheit, but dropped to
43 miles at 20 degrees. And a 2016 study of Nissan Leaf performance by
the U.S. Department of Energy’s Idaho National Laboratory found that, while the car’s range was 91 miles in 72-degree weather, it dropped to 50 miles in temperatures averaging 14 degrees.
In addition to their high prices, electric vehicles can take hours to
recharge, complicating long-distance trips
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Old 03-23-2019, 03:48 AM
 
Location: Washington State
18,548 posts, read 9,592,797 times
Reputation: 15793
Quote:
Originally Posted by asiago12 View Post
But you can't deny that shale oil business is still really an economic disaster..
Not true...might become an ecological disaster though.
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Old 03-27-2019, 01:39 AM
 
Location: Switzerland/Ticino
272 posts, read 77,921 times
Reputation: 122
Quote:
Originally Posted by Tall Traveler View Post
Not true...might become an ecological disaster though.

http://ieefa.org/wp-content/uploads/...March-2019.pdf

More Red Flags on Fracking



Even after three years of oil price increases, US fracking-focused oil and gas companies continued their 9-year losing streak through 2018.

Cash Flows Still Negative – Disappointing Results for U.S. Frackers Continued Through Q4 2018


A cross section of 29 publicly traded, fracking-focused oil and gas companies posted $6.7 billion negative free cash flows in 2018.


Said differently, these companies spent $6.7 billion more on drilling than they realized from selling oil and gas.


2018 WTI price average 66,5 $
2018 Brent price average 71,5 $


Many investors had predicted that 2018 would be the year when America’s shale industry finally produced cash as well as hydrocarbons. The conditions seemed ripe. By the third quarter of the year, the price of oil had risen to its highest level since 2014. At the same time, the oil and gas industry had spent more than a decade improving its technology, learning to produce more oil at a lower cost.


Despite these advantages, the fracking sector still wasn’t able to generate cash. Financial performance varied across the sector, but successes were rare


These disappointing results come on the heels of a decade of bleak financial performance.Since its inception, the fracking sector has consistently failed to produce enough cash to satisfy its voracious appetite for capital.


From 2010 through 2018, the companies in our sample had an aggregate negative cash flow of $181 billion.


In 2018 2 milions tons oil production - WTI price average 66,5 $ and Brent price average 71,5 $ - were not enough to invert the financial problems of shale oil company.


And now there is the huge problem of child Wells..... which decline rate is huge and effetc the other rigs nearby..


U.S. oil producers are facing debt of US$240 billion maturing until 2023.


Is it possibile to pay back 240 bilions in 4 years if the average WTI oil price will remain much below 90$ average ?

Capital raising by US oil companies falls sharply


https://www.ft.com/content/0a18f0b0-...6-46fc3ad87c65

Last edited by asiago12; 03-27-2019 at 01:55 AM..
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