Fracking is a Wall Street Snowjob08/08/2014 01:45
One of the many reasons I am totally against Fracking is primarily because it is looking more and more destined to be the next DotCom Bubble. All the Fracking speculators will eventually pull out sooner or later, and we'll be left with little more than unused gas wells and pollution.
If you take a critical look at the Fracking companies, most are basically creations of the Stock Markets - and in particular, Wall Street investment banks - and they are not established companies with a history in mining or oil. Precisely the same model as the DotCom Investors: a speculative bonanza sold to shareholders on the assumption that it is going to result in a pay day.
Imagine if these Fracking speculators wreck the countryside and do not even bother extracting the gas and oil? The main clue to their real agenda lies in the lack of infrastructural logistics required to distribute the gas and oil which may be found. There is simply no coherent plan for distribution put in place before the wells are drilled. "Hey, we will worry about the pipelines when we find the gas...!" appears to be the strategic business model at this juncture.
Consider this: how is it that the main money maker in this so-called industry - as in, getting the actual product from well to customer - is not even planned out beforehand? This tells us all we need to know: that Fracking is a literal 'smash n' grab'. If you are not concerned about Fracking, then you are not looking at the industry properly.
The entire Fracking industry is looking more and more like a scam to fleece pension funds and other investors. The speculators will take the investors' money and then run. Fracking is not a real industry; it's a snowjob and a very risky and harmful one.
A toxic gas bubble is waiting to burst, and eventually will leave us with much more than just a financial mess to clean up.