NY Times: "...Some of fracking’s biggest skeptics are on Wall Street."

[Hoai-An]

From an email my brother-in-law sent to a Berkeley council member:

"Also noteworthy is that the fracking boom may be a bubble about to burst."

"Frackers haven’t proven that they can make money. “The industry has a very bad history of money going into it and never coming out..."

I LOVE IT!!!

---------- Forwarded message ----------
From: Tom Miller
Date: Mon, Sep 24, 2018 at 5:30 PM
Subject: A possible way to pay for undergrounding
To: Councilmember Lori Droste <ldr...@cityofberkeley.info>

At a fund raiser for Josh Harder on Saturday (Edelson just gave $6 million for negative ads against him in the final few weeks!) there was talk of the way Boston has made the choice of NOT replacing old gas lines and substituting clean electricity, as a way of decreasing global warming. The thought was that money saved by not replacing old gas lines or building new ones could be used to underground wires.

Also noteworthy is that the fracking boom may be a bubble about to burst. Here's a quote from a recent NY Times article:

Some of fracking’s biggest skeptics are on Wall Street. They argue that the industry’s financial foundation is unstable: Frackers haven’t proven that they can make money. “The industry has a very bad history of money going into it and never coming out,” says the hedge fund manager Jim Chanos, who founded one of the world’s largest short-selling hedge funds. 

 

The Next Financial Crisis Lurks Underground

Fueled by debt and years of easy credit, America’s energy boom is on shaky footing.
Sept. 1, 2018

https://www.nytimes.com/2018/09/01/opinion/the-next-financial-crisis-lurks-underground.html 

As the City Council looks for a way to underground and protect against fire danger this possibility is worthy of discussion.

Best regards,

Tom

PLEASE CONSIDER THE ENVIRONMENT AND ONLY PRINT THIS E-MAIL IF YOU REALLY MUST.

Miller & Washington LLP. Attorneys at Law
www.millerwashington.com
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Tel: 510 891-0616 Fax: 510 839-9857

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[Jorge Rebagliati]

Thank you Hoai-An.  Best news I have seen in a while.

Love,

Jorge

 

"We are the ones we've been waiting for"

DECLARATION: "Climate Crisis Is Already A Major Disaster"

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From: Hoai-An <c-o...@350kitty.net>
To: divestment-california <divestment...@googlegroups.com>; OSC Earth Action <osc_eart...@googlegroups.com>; ClimateActivists-SC <ClimateAc...@googlegroups.com>
Sent: Monday, September 24, 2018 10:29 PM
Subject: [Climate Activists-SC] NY Times: "...Some of fracking’s biggest skeptics are on Wall Street."

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