NY Times: "...Some of fracking’s biggest skeptics are on Wall Street."
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Hoai-An
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Sep 25, 2018, 1:17:22 AM9/25/18
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to divestment-california, OSC Earth Action, ClimateActivists-SC
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 $6million
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
--
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