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Nope. Check the numbers, the US production is up even with the slump in prices caused by all the extra supply. Rig counts are down, exploration is down, but pro
by jonknee 11y ago
Nope. Check the numbers, the US production is up even with the slump in prices caused by all the extra supply. Rig counts are down, exploration is down, but production is up.
http://www.economist.com/news/finance-and-economics/21648622-fall-oil-price-has-not-curbed-fracking-nearly-much http://www.economist.com/news/finance-and-economics/21648622...
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- deleted 11y ago[deleted]
- jacquesm 11y agoMy Canadian contacts in the fields say otherwise (the ones that aren't laid off...), but I can see how if the exploration is down the number of workers would be reduced as well as when the rig counts are down, hard to square that with production being up but I guess that's possible too if you exploit fewer rigs. The boom has definitely halted though and there is no sign of it resuming any time soon, also there are more and better organized actions against the environmental impact of fracking.