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In Reply to: RE: I haven't been following it posted by Satie on June 22, 2017 at 13:12:15
That's interesting. I didn't know US production was back and I had no idea that fracking breakeven had declined. Because of new technology, or because the less efficient fields have been forced out of operation, or both?
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Baaken is still $50+, Permian figures are better than the industry averages I quoted. Fracking is truly transformative for the energy market, and has deep significance in geopolitics and international monetary economics and finance.
If US and state level regulators allow rapid permitting then the rust belt can revive on cheap nat gas feedstocks for over a decade into the future using utica and marcellus shale gas.
Satie. How do you know so much about this? Do you work in the industry? In my area - there is a lot of discussion about the dangers with fracking like possible water supply issues. Not to take this thread off course even more!! :). I know nothing of it so wondered if it was a concern.
It is part of my ongoing market and economic tracking work and I occasionally trade energy and related stocks. Have a slight background in the industry.
A big part of the drop in costs is due to water recycling and distribution of fracking to side bores off the well casing that apparently frack more stone with less pressure.That reduces the environmental footprint greatly compared to wells pre 2011. Of course, shallow wells increase the risks to ground water, but most wells are far deeper than ground water.
I wish that was enough to save the rust belt. But natural gas prices have been much lower here than elsewhere for years and while it's helped the chemical industry it doesn't seem to have lowered costs enough to overcome wage and regulatory differences, as well as discriminatory tariffs, currency manipulation, and all of the other factors that have made American manufacturing uncompetitive.
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