How the fracking revolution is killing the US oil and gas industry
NationofChange “Does investing in oil and gas companies still make sense?” After over a decade of the much-hyped U.S. fracking miracle, the U.S. oil and gas industry is having to deal with years of losses and falling asset values which has dealt the industry a serious financial blow. This is despite the fracking revolution delivering record oil and gas production for the past decade, peaking in 2019. While the pandemic has hurt the industry, companies have also benefited from excessive bailouts from pandemic relief programs but these bailouts are a stop gap financial ba...
Source: nationofchange.org