Set aside all the concerns of environmentalists regarding water quality and earthquakes and focus on the real status of fracking.
It turns out the first year when a new operation goes into production is fantastic. But very rapidly the output sinks to unsustainable levels. The level that is unsustainable with the low production is servicing the debt to drill the well.
Large investors, with major oil companies being among them, have suffered significant losses to their balance sheets when fracking was involved. The deception is masked because more and more wells are being drilled. Overall production had not increased significantly and we will never put pressure on Russian President Vladimir Putin by selling all this "excess" energy.
Sorry, I do not recall the recent article off the Internet, but it included the revelation that the potential recovery of our major shale formation was overestimated by 97 percent.
Like gasohol, these little spurts are going to come and go. The damage left in their wake is going to be astounding. Ghost towns are going to spring up in the prosperous Dakotas before very long.
William J. Sturm