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Author Topic: Fossil Fuels: Degraded Democracy and Profit Over Planet Pollution  (Read 12140 times)

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AGelbert

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    • Agelbert Truth AND Consequences

Quote
There will come a day, for example, as with all financial bubbles, when the wildly optimistic projected profits of industries such as fracking will no longer be an effective excuse to keep pumping money into failing businesses burdened by debt they cannot repay.

“The 60 biggest exploration and production firms are not generating enough cash from their operations to cover their operating and capital expenses,” Bethany McLean writes of the fracking industry in an article titled “The Next Financial Crisis Lurks Underground” that appeared in The New York Times. “In aggregate, from mid-2012 to mid-2017, they had negative free cash flow of $9 billion per quarter.”



https://www.truthdig.com/articles/conjuring-up-the-next-depression/


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