There are many winners and losers in war, but one of the biggest winners has been the U.S. LNG (Liquified Natural Gas) industry.
Last week, new British Prime Minister outlined plans to frack in the UK. However, experts, scientists, activists, NGO’s and even Truss’s own MPs, believe that fracking will fail in the UK.
One of the leading trade associations promoting fracking in the U.S. sees Putin’s war in Ukraine as a flagrant opportunity to sell more LNG gas. And lots of it. They are calling on the U.S. to “unleash American energy’s strength and security”.
A great joint investigation by Channel 4 news in the UK and InfluenceMap has found that oil industry lobbyists are using social media such as Facebook and Instagram to promote the continued use of gas and the myth that gas is a green fuel.
“Shell has been a leader in peddling the gas myth for a decade or more, and it’s now clearer than ever that gas is over-supplied, over-hyped, and out of time.”
A report from the financial auditing firm Deloitte says the “reality is that the shale boom peaked without making money for the industry in aggregate. In fact, the US shale industry registered net negative free cash flows of $300 billion, impaired more than $450 billion of invested capital, and saw more than 190 bankruptcies since 2010.”
A new study published last week confirms what we already knew about oil and gas in the Permian Basin. It’s an unmitigated disaster.
The unthinkable could soon be thinkable.
Canada may be helping put out the flames in Australia, but back home Trudeau is setting light to our climate.
We’re blowing through our carbon budget the way an addict blows through cash. At a time when carbon dioxide pollution is higher than it’s ever been.