Fracking “Revolution” continues to be a disaster for investors and more

❝ Steve Schlotterbeck, who led drilling company EQT as it expanded to become the nation’s largest producer of natural gas in 2017, arrived at a petrochemical industry conference in Pittsburgh…with a blunt message about shale gas drilling and fracking.

“The shale gas revolution has frankly been an unmitigated disaster for any buy-and-hold investor in the shale gas industry with very few limited exceptions,” Schlotterbeck, who left the helm of EQT last year, continued. “In fact, I’m not aware of another case of a disruptive technological change that has done so much harm to the industry that created the change.”

“While hundreds of billions of dollars of benefits have accrued to hundreds of millions of people, the amount of shareholder value destruction registers in the hundreds of billions of dollars,” he said. “The industry is self-destructive.” [emphasis added]…

❝ “The technological advancements developed by the industry have been the weapon of its own suicide,” Schlotterbeck added, referring to the financial impacts of shale gas drilling on shale gas drillers. “And unfortunately, the industry still has not fully realized how it’s killing itself. Since 2015, there’s been 172 E&P company bankruptcies involving nearly a hundred billion dollars of debt.”

❝ “In a little more than a decade, most of these companies just destroyed a very large percentage of their companies’ value that they had at the beginning of the shale revolution,” he said. “It’s frankly hard to imagine the scope of the value destruction that has occurred. And it continues.”

Our fake president wants to make it easier for this clown show to borrow even more money. When this paper edifice crashes and burns – what do you think will be the effect on the nation’s economy?

Solar Water Heating Pays For Itself Five Times Over

An analysis of the engineering and economics for a solar water-heating system shows it to have a payback period of just two years, according to researchers in India.

The current focus in the developed world is on advanced technological approaches to alternative energy sources, such as photovoltaic cells for solar power and harnessing wind and wave with elaborate systems to generate electricity. However, the cost of such systems may be prohibitive for some applications in the developing world. They also often ignore the fact that a mundane process such as heating water might best be carried out using direct heat from the sun rather than including a waste energy-conversion step.

They have compared solar hot-water production per liter with electrical energy approaches and found that solar heating is 57 percent of the internal rate of return.

“Solar energy is the only renewable energy source that has wide range of uses with commercial viability. Solar energy provide water heating, air heating and electricity through various modes of applications. The use of solar energy for thermal purposes is the most cost-effective way of utilizing the resource. A solar water heating system satisfies the need of warm water,” the researchers explain.

Thinking about it. May even go that route before I can get round to saving enough for photo-voltaics for electricity.