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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: maceng2 who wrote (57961)	3/16/2016 3:44:30 PM
From: Elroy Jetson	Read Replies (2) \| Respond to of 71454

The Rolling Stones title pretty much sums up my opinion. The Big Fracking Bubble: The Scam Behind Aubrey McClendon's Gas Boom It’s not only toxic – it was driven by a right-wing billionaires who profited more from flipping land than drilling for gas Exxon, being blinkered by their own far-right-wing perspective threw $31 billion of their capital into the furnace by buying fracking company XTO at the top of the mania. With this acquisition Exxon made themselves into a gas producing company with extremely high costs of production. Good luck with that. Chevron and other major oil companies never invested in this business because investing in high-cost oil and gas production only makes sense for a carnival barker is investing other people's money. Chevron saw an opportunity for this in Europe where no carnival barkers were operating so costs were lower, but geology and public opinion didn't make this possible. So after a few test wells they withdrew from this business. Chevron has instead been steadily been redeployed their resources into natural gas production which can be produces at a very low cost - but projects which require very high initial investment, making for few competitors. I think they have once again chosen the strategy which will provide the best long-term success.