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View Diary: Drill Baby Drill! The Fracking Bubble is Bursting! (135 comments)

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  •  The problem with Guessing about Natural Gas Prices (2+ / 0-)
    Recommended by:
    PrahaPartizan, Mr Robert
    "See that bounce that's occurred since April?  That actually represents about a 50% rise in NG prices.  Why in the world would NG prices be rising in a slow economy and if we're just beginning a Fracking revolution that will give us 100 years of NG?  My guess is, big time investors have woken up and can no longer be fooled by the Fracking lie."
    One does not have to guess about natural gas prices, they are a function of supply and demand.  Natural Gas prices bottomed in May at the end of a low demand, incredibly warm winter.  This caused gas producers to curtail more than half of their drilling activity.  With reduced supply gas prices have risen as demand for natural gas in the production of electricity (replacing coal - a good thing) has, concurrently, increased in this very warm summer.

    "Still a man hears what he wants to hear and disregards the rest"

    by HoyaChris on Wed Aug 15, 2012 at 06:26:37 AM PDT

    •  Yes, NG production is not economical here. (2+ / 0-)
      Recommended by:
      freesia, Mr Robert

      When they start capping wells to raise the price, it tells you something.  If they have to force the price up, the consumers are going to get a surprise, and Solar and Wind become even more competitive.

      The entire meme has been we have a hundred years of NG, but what they didn't say is, not at the price you're used to.

      As the true price of these carbon fuels are realized, they will become less competitive with solar and wind.  The fracking meme is a con job.

      •  Natural gas prices (0+ / 0-)

        need to at least double before there will be an increase in supply of NG from fracking. At current prices, the producers aren't making enough money to justify the investment.

        Frankly, I hope that happens for a lot of reasons not least of which is because I receive natural gas royalties from a number of traditional gas wells in Texas and I've watched my checks go from thousands down to hundreds of dollars. So fracking has really hurt me in the pocket book.

        Honesty pays, but it doesn't seem to pay enough to suit some people. Kin Hubbard

        by Mr Robert on Wed Aug 15, 2012 at 12:22:37 PM PDT

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    •  The environmental cost of fracking puts it on par (3+ / 0-)
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      pollwatcher, freesia, mojo workin

      with coal. NG burns 50% cleaner than coal, but before it ever gets to the burning stage it has endangered the water table of the continent, polluted land, water and air with the drill pads, the waste water and the burn offs.

      To the Gas Industry: "What the frack are you doing to our air and water?"

      ❧To thine ownself be true

      by Agathena on Wed Aug 15, 2012 at 06:58:07 AM PDT

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