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According to The Wall Street Journal, fracking companies are seeing their sources of capital on Wall Street dry up as investors are looking elsewhere given that many of the frackers have been operating at a loss for more than a decade. The lack of capital to keep these companies liquid is forcing them to cut costs and plan for slower growth. This is particularly true for small companies with lots of debt, but it is also happening to larger companies that are desperately trying to meet earnings targets set by their Wall Street lenders. There are some ominous signs of trouble ahead for shale, as The Journal explained:
Why This Matters: Oil has always been boom and bust and shale is no different, with producers and their financial backers suffering from a get rich quick mentality that leads to overproduction so that oil and gas flood the market, thus driving down the price. Until now, the fracking companies had Wall Street to keep them liquid during the downturns. It is amazing that these companies are this close to the edge of going under even though recently they have received major “help” from the Trump Administration, which has rolled back environment and safety standards for fracking operations.It seems like the fracking bubble may be about to burst. Yet another reason why renewable energy projects are increasing, which is good news for the planet.
by Amy Lupica, ODP Staff Writer The Biden administration and automakers are hatching plans to make electric vehicles (EVs) represent 40% of all car sales by the end of this decade. But as the government and the public begin to embrace the idea of an electric future, engineers and environmentalists struggle to balance new demand for […]
A new study has found that a small subset of power plants has been responsible for the majority of emissions— the top 5% of polluters are responsible for 73% of emissions from the electric sector. A group of researchers at the University of Colorado at Boulder analyzed 2018 data from 29,000 fossil fuel power plants […]
By Ashira Morris, ODP Staff Writer Would you support or oppose the government moving the country to a 100% clean energy electricity grid by 2035? That’s the question Washington-based think tank Third Way posed across the country. It turns out that a majority of voters support federal action to reach a 100% clean energy grid. […]
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