Home Forums Hunting & Shooting Hunter's Campfire Is Fracking A Hoax?

I think that's the argument they are making. They frack, because they generate and pass around a lot of money while doing it. But, hidden in the balance sheet is mounting debt that will eventually implode the companies. That's why it's a hoax. It works, but it's very expensive to do It's like a ceo making 10 million a year while his company is taking on massive debt. Eventually the company goes down, but people make a whole lot of money in the meantime, and thats whey they keep it going.

Like I said, you'd have to carefully examine a whole lot of financial documents to either refute or validate the claim.

Electric cars must be a "hoax" too then.

Almost all new technology is cost-prohibitive at start-up.

rut-roh, looks like there's trouble in kooksville...

Uber cogent

The best way to refute his arguments is get the annual reports of big oil including the different SEC reports. That will explain everything. I don't have the time to refute stupid.

Sorry if I'm cranky but I get tired of this liberal chit. It's like trying refute Christianity it's a waste of time.

According the to the engineers and scientists working the fields. Without fracking the supply of oil would be way down while demand would be up. Fracking has allowed the supply of oil to be awash. Hence, the price of oil is to stay in the $3.50 a gallon range. More new refineries are starting to come on line.

I'll take that as a concession by default.

PS His discussion of this question is fully contained in the first twelve minutes.

I've never heard that about him. I think he mainly deals with economics and finance.

I bet big oil will be around long after we are all dead and buried. Ten years ago or so it cost big oil about a billion dollars a hole to drill in the ocean. Big oil should have been bankrupt by now but seems to be still going strong.

And liberal fiction apparently.

Max Keiser is not stupid.

Thanks for the thoughtful response.

Not sure what was liberal or fictional about his economic inviability argument. Did you listen?

He's a liberal he's stupid. We should be thankful that big oil is willing to take the risk to find more oil and build refineries so that we can have oil and gas instead of trying to find ways to shut them down.

I hope we all like driving a horse and buggy. I suppose liberals would complain about that too.

I'm just pissed off!

No bigger "hoax" imo, than green stuff.

I don't think he fits neatly into either the liberal or conservative categories.

+1

Horses would create to much green house gas for them. To large of a carbon footprint.

Max Kaiser isn't stupid, but he doesn't have an clue to all the dynamics of resource extraction.

What isn't taken into account is the cost of resource extraction or doing business in very unstable locations and countries. Just look at what it costs to secure Iraq, Kuwait, Saudi Arabia from fundamentalists. It's an lot less expensive to produce domestically with higher wages than it is to import with very high backend cost of security.

I know a little about the resource extraction industry as I work in deep underground metal mining and mining startups and projects.