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I like the part where the fossil fuel industry gets bullied around by the uber powerful environmental groups. Its funny because besides being the scapegoat for
by bob29 6y ago
I like the part where the fossil fuel industry gets bullied around by the uber powerful environmental groups.
Its funny because besides being the scapegoat for every failure of the fossil fuel/nuke industry, these environmental groups seem to lose every other battle they care about.
- beerandt 6y agoI don't mean it as scapegoat- I mean it's more effective than people realize, and at a large financial cost to public companies. These groups have been calling for putting principles over profits for years. When they finally start doing it, it's not fair to also point to lower profits as a reason the industry might be in decline, when it's at least partially result of voluntary behavior done for appeasement. But fracking isn't a long term investment activity. If it's actively being done, it's because it's profitable, short term and real time. The profits just get shifted elsewhere and to other companies.
- bob29 6y agoFracking profitability is going down because they aren't able to operate at as high of a capacity factor, because their operational costs aren't as low as renewables.