Economy 53,112 Posted April 17, 2018 Share Posted April 17, 2018 https://www.google.ca/amp/s/amp.ft.com/content/4111b0c6-4205-11e8-803a-295c97e6fd0b Australia has removed an fracking ban in the Northern Region hoping to ease the Nation's shortage in Natural Gas The industry has promised to invest Billions into the region. The betaloo shale formation is comparable in size to some of the US largest formations excluding the Permian Link to post Share on other sites More sharing options...
corvus albus 38,031 Posted April 17, 2018 Share Posted April 17, 2018 Come on. Fracking is expensive! Why does Australia now lift these restrictions? Oil is way too cheap for Fracking to be even remotely profitable. Link to post Share on other sites More sharing options...
Economy 53,112 Posted April 17, 2018 Author Share Posted April 17, 2018 10 minutes ago, corvus albus said: Come on. Fracking is expensive! Why does Australia now lift these restrictions? Oil is way too cheap for Fracking to be even remotely profitable. In the US they are finally making money out of it Link to post Share on other sites More sharing options...
corvus albus 38,031 Posted April 17, 2018 Share Posted April 17, 2018 2 minutes ago, Economy said: In the US they are finally making money out of it I thought a lot of the samller Fracking companies went bancrupt not a long time ago because of the extremely low prices for oil and the expensive procedure that is Fracking. But i'm not that in touch with the US economy so this could be old news ore even wrong. Link to post Share on other sites More sharing options...
Economy 53,112 Posted April 17, 2018 Author Share Posted April 17, 2018 19 minutes ago, corvus albus said: I thought a lot of the samller Fracking companies went bancrupt not a long time ago because of the extremely low prices for oil and the expensive procedure that is Fracking. But i'm not that in touch with the US economy so this could be old news ore even wrong. Yeah. Breakeven costs for shale now are estimated around $50 to $55 (but that's an average it can vary from 1 shale formation to the next and also depends on the company and how efficient they are) Oil prices dropped all the way to $26/barrel at one point about half the breakeven cost and many small companies did go bankrupt The main US Oil Benchmark (WTI) closed at $67/barrel yesterday so shale is very profitable right now even in the less productive shale formations Link to post Share on other sites More sharing options...
Andreu 37,216 Posted April 17, 2018 Share Posted April 17, 2018 This crying earth, its weeping shores Link to post Share on other sites More sharing options...
sarahb 17,247 Posted April 18, 2018 Share Posted April 18, 2018 Can't wait to see ads about how great fracking is just like I see them for how great 'clean coal' and mining is Do you feel him sir? Link to post Share on other sites More sharing options...
Economy 53,112 Posted April 18, 2018 Author Share Posted April 18, 2018 18 minutes ago, sarahb said: Can't wait to see ads about how great fracking is just like I see them for how great 'clean coal' and mining is While I don't like environmental extremismists who want to go against every project and make unrealistic time lines and demands for the decarbonization of the economy with no regard for how it might affect the economy and people's standard of living... Ads promoting things like Coal (which is more toxic than Crude Oil btw) is rediculous and I can't believe some ppl actually fall for that propaganda like it's a good thing There needs to be a balance here Link to post Share on other sites More sharing options...
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