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The global oil price rose slightly this morning on the back of the news from the US government that US shale oil output is expected to fall for the first time in four years.

When Californian Governor Jerry Brown announced wide ranging water restrictions for California last week, the news went global.

The wave of anti-fracking protests sweeping the globe have now spread as far as North Africa.

As so often in the past, where the tobacco industry leads, the oil industry follows.

A state of emergency was declared late yesterday in two counties in the south of West Virginia after a crude by rail train oil derailed and exploded, in what is the latest in a long string of accidents in North America.

One of the great debates about fracking is whether it heralds a great new chapter in the age of oil or whether it is a small blip in the dying days of the fossil fuel era.

The oil industry often prides itself in pushing the boundaries of technology. The whole fracking revolution has been driven by the industry pioneering new techniques to exploit oil and gas that was previously out of reach.

It could all be over before it even began. The boom could turn to bust before a well is even drilled. The British fracking industry now faces growing resistance from numerous influential voices.

Just how low can the oil price go? What was unthinkable even a few months ago is now becoming distinctly probable, even likely. As analysts dissect the ramifications for the oil industry of $40 dollar barrel, oil traders are now thinking that the price of crude will halve that to a staggering $20 a barrel. Prices have not been that low for twenty years.

It is a majestic world heritage site located on the west coast of Newfoundland, which is seen as one of the jewels in Canada’s crown. But it could be under threat from the controversial technique of fracking in the future.