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"Over the past decade, the oil and gas industry's upstream investments have registered an astronomical increase, but these ever higher levels of capital expenditure have yielded ever smaller increases in the global oil supply. Even these have only been made possible by record high oil prices. This should be a reality check for those now hyping a new age of global oil abundance."

http://www.theguardian.com/environm...4/jun/10/inevitable-demise-fossil-fuel-empire

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That's what I don't understand about fracking; apart from the environmental damage I mean. All that money spent on infrastructure that will be redundant in a few years time.

Then they'll be like, "Now what... I know, renewables."

D'oh
 

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That's what I don't understand about fracking; apart from the environmental damage I mean. All that money spent on infrastructure that will be redundant in a few years time.
Sadly, short term-ism works like that - Company X will gladly spend £1M on infrastructure up front, to make £2M. And in two years time, abandon all the infrastructure, because, hey, we're still £1M in profit!!
The thing that really urks me (without an xenophobia) is that it's pretty much all foreign companies coming in to frack our gas, being given huge subsidies (in the form of tax breaks) by our government, to sell the gas back to us at horrific prices, while taking the profit back home, leaving us with potential long term geological issues.
It's just flippin'mad I tell you!!
 
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