History of the oil shale industry Three West Lothian shale mounds, evidence of the early paraffin oil industry in the 19th century Scotland Oil shale was one of the first sources of mineral oil used by humans.
Well, here comes the Big Bang: Mistake 4 — rarely seen, but always regretted. The future is sacrificed for the present.
And the welfare of the public is tossed aside to buy money, power, and influence for the elite. Every debt expansion ends in a debt contraction. The economy goes into reverse, correcting the mistakes of the previous boom.
Investors see their money entombed.
The more the feds falsify price signals in the boom, the more mistakes there are to correct. For example, this week, a report in The New York Times described the big mistake in the shale oil boom. The whole boom was fake. Had credit been priced properly, it never would have happened.
From The New York Times: The 60 biggest exploration and production firms are not generating enough cash from their operations to cover their operating and capital expenses.
These companies have survived because, despite the skeptics, plenty of people on Wall Street are willing to keep feeding them capital and taking their fees.
But Chesapeake bled cash. From to the end ofChesapeake never managed to report positive free cash flow, before asset sales. Turkeys Fly Of course, the same thing could be said of the trillion-dollar companies, Amazon and Apple, whose market capitalizations are largely the result of cheap credit.
And it could be said of the whole tech sector — with its outrageous inputs of capital into companies that have never made a dime. Or it could be said of emerging markets, which have managed to suck up the loose change spilling out of the financial industry. They promised slightly higher yields, and now, they owe far more than they can pay.
And overhead now are so many plump, money-losing birds that we suggest you take cover. Its manhood is questioned. Congress and the Trump administration, too, are roused to action!
The feds will make the rational choice for them. They will go for broke.
That is, they will do things that cause you to go broke… while the insiders continue to get rich, following the tried-and-true remedy of Mistake 4 — the refuge of scoundrels and the last resort of jackasses from Zimbabwe to Venezuela.
All this money-printing will spark inflation… which will soon be blazing-hot.Dec 27, · Still, for now shale oil is tightly gripped in a tug of war with environmental concerns versus jobs and a domestic fuel source.
People on both sides are eagerly watching to see what happens. While three of the four original Petroleum Reserves (NPR-1, NPR-2, and NPR-4) and the three Oil Shale Reserves had been sold or transferred to the Department of the Interior, the remaining oil reserve was managed by the Department of Energy.
Despite record shale production in other parts of the state, oil and natural gas development is relatively new to Ohio’s Ashland county region.
And as is the case whenever a “new-to-you” industry enters a community, there can exist a bit of a learning curve in terms of understanding the operational process and potential impacts that industry might have.
Oil Commodity Market Trades, Charts. 20 Hours Ago *Trump ready to impose new tariffs on China- reports. SINGAPORE, Aug Oil prices fell on Friday amid . Dubai: The small island-nation of Bahrain on Wednesday announced the discovery of 80 billion barrels of shale oil, its largest oil and gas find ever.
Shale oil and gas yielded by the combination of horizontal drilling with hydraulic fracturing (the shale revolution) have liberated the US economy from the tyranny of foreign oil dependence (one needs only recall the Arab Oil Embargo of ).