Read the latest insights and analysis from the experts at Oil Change International.
One of the leading trade associations promoting fracking in the U.S. sees Putin’s war in Ukraine as a flagrant opportunity to sell more LNG gas. And lots of it. They are calling on the U.S. to “unleash American energy’s strength and security”.
A report from the financial auditing firm Deloitte says the “reality is that the shale boom peaked without making money for the industry in aggregate. In fact, the US shale industry registered net negative free cash flows of $300 billion, impaired more than $450 billion of invested capital, and saw more than 190 bankruptcies since 2010.”
Instead of responding responsibly to the climate crisis, the chief climate denier in the White House, Donald Trump, continues to promote the fossil fuel industry. And even worse, he wants to bail out his fossil fuel friends in response to the rapidly declining oil price.
Just as the political opposition to crude by rail trains is growing in the US over the latest crash along the Colombia River Gorge, so is the public opposition.
