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Old 16th August 2014, 07:30 PM
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JB40 JB40 is offline
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Default get fracked

According to polls about a quarter of people support fracking, and the same amount oppose it. That means the majority are undecided.

The argument seems to centre on the environmental consequences of the technique. Environmentalists insist there is plenty of evidence to show fracking is bad for the environment and our health. Supporters of fracking insist there is no such evidence.

Personally I think the environmental drawbacks are pretty obvious. But let's put that discussion aside for now.

There is another more important reason why fracking is a bad idea. And it's to do with the financial costs.

The american government department responsible for keeping an eye on the energy industries has just filed a report.

This report shows that fracking companies have made over $580 BILLION since they started.


It has cost them over $690 BILLION to do it !!

This proves beyond doubt that fracking is NOT financially viable.

It cost them $690 Bn to make $580 Bn.

This means that the only way fracking companies can make any money is to triple the price of gas. American will have to pay THREE TIMES MORE for their energy in the future.

A good question would be. . .why are these fracking companies lining up to do this in the UK if it has been such a financial loss in the USA.??

The answer is easy.

The banks who put up the money for the fracking wells, and the executives of the fracking companies themselves are paid FEES. This means that there rewards have nothing to do with the financial performance of the companies. It's all about the size of the deal. The bigger the deal, the bigger the fee. It's how hollywood works. The bigger the budget the more the executives can charge in fees, there is absolutely no incentive to make a profit. The consequences of these rotten deals are somebody else's problem, in other words, it'll end up being added to OUR bills !!

And all this is BEFORE we take any of the environmental consequences of such a destructive and resource depleting [water, chemicals, land] technique.

But with politicians and newspapers controlled by the same corporate thieves who bankrupted the world in 2008, and the same bankers and executives are set to make a fortune in fees from fracking. Expect to see them heavily promoting it in the next few months.

Last edited by JB40; 16th August 2014 at 07:33 PM.
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