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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 Natasha Lasky, ODP Staff Writer Cities across the US are transitioning their buildings to clean energy, which would mean banning natural gas in new construction and promoting electric appliances. But the question remains whether or not infrastructure — foundational and historic — is ready to handle such a demand for electricity. Why this […]
As more people around the nation are taking to the roads and skies for their vaccinated vacations, one car rental company is making it easier for folks to not only travel in style, but travel green. Hertz has announced that it will be purchasing 100,000 Tesla electric vehicles by the end of 2022 alongside an […]
By Ashira Morris, ODP Staff Writer Last year, the average American household experienced eight hours without power, as storms hammered electrical systems built with less erratic climate conditions in mind. That average outage time is double what it was five years ago. But only looking at the average obscures the experience of people who lived […]
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