The Impending Fracking Bust - How Debt Created and Destroyed the Fracking Industry
Full video here: https://www.youtube.com/watch?v=vMCHdi2sXtI&t=9s
John Sneisen and Tim Picciott report on the North American Shale Oil Boom and Bust. As a Bloomberg article goes into Pioneer Natural Resources Company is struggling and are asking one-third of its management to retire. The Shale Oil Boom and now impending bust as oil prices struggle to recover back up to profitability is hitting the hydraulic fracturing oil extraction businesses hard. The s...
The Impending Fracking Bust - How Debt Created and Destroyed the Fracking Industry
Full video here: https://www.youtube.com/watch?v=vMCHdi2sXtI&t=9s
John Sneisen and Tim Picciott report on the North American Shale Oil Boom and Bust. As a Bloomberg article goes into Pioneer Natural Resources Company is struggling and are asking one-third of its management to retire. The Shale Oil Boom and now impending bust as oil prices struggle to recover back up to profitability is hitting the hydraulic fracturing oil extraction businesses hard. The struggle to be profitable and with mass amounts of debt and long bond issues, the fast depleting wells are struggling to give investors and companies a return on investments. Environmental issues are another problem as well for the sector and have not helped the industry at all. With cheap debt, this was made possible, but with interest rate increases and the lack of profits, the most fracking companies are in deep red as debt is propping them up into a zombie state. It seems like the monetary drugs have run out and the impending big bust is coming to the sector that made the US the top oil producer in the world. They also go into how it's not only shale oil and gas that is having issues, but also other sectors that have borrowed cheap money and can only afford to pay the interest on their debts. There is over 15% of corporations in the United States that only pay interest rates, and they are called zombie corporations, but it doesn't stop there. Almost all of the world governments are in the red as well. We also report on how CNN is in the category above and welfare of debt and corporation pouring money into the company from debt-ridden corporations on their death bed. CNN had to let 300 employees go as we see mainstream media with fewer and fewer viewers are getting outcompeted by small and effective independent alternative media.
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