dagblog - Comments for "Fracking bans widen, N.Y. joins Denton, Texas."

The Denton, Texas, Nexus.

Oxy Mora — Fri, 19 Dec 2014 17:11:58 +0000

The Denton, Texas, Nexus. This could get interesting. So Jeb outsources the family's shale gas interests to son who is in the cat bird seat in Texas of overseeing what might be the most significant legal action the industry is taking against local municipalities.

According even to Rominey, Jeb will have trouble explaining his venture work which includes the shale gas stuff. And I wonder how Jeb's money raising in the sector is looking like right at the moment. Oh, it's that Bush projeny timing problem again.

(the question was from barefoot)

Wow. I guess my answer to

Michael Maiello — Fri, 19 Dec 2014 16:21:43 +0000

In reply to I'll let Mike answer but I

Wow. I guess my answer to "what do I mean by firmly in place" is actual laws passed that would have to be repealed, rather than edicts by one governor or executive that can be rescinded by the next. This George P. news is certainly evidence that the fix is in on the other side and makes it seem like any fracking opposition now will be only temporarily successful.

Oh we need jobs.

Richard Day — Fri, 19 Dec 2014 06:19:09 +0000

In reply to Fracking bans widen, N.Y. joins Denton, Texas.

Oh we need jobs.

Although Jobs is dead.

But damn, if my kid or grandkid died as a result of this fracking tech....Oh I would go nutsy.

No kidding.

People actually cannot drink the water.

I recall the old days and reading about nuclear power.

I recall JFK talking about nuclear fall out.

Is it raining today?

Yeah, 'they' will tell us that it is somehow normal for our taps to turn into fire?

The Supreme Court discussed balancing decades and decades ago.

Jesus. When the kids are dying....

Well, let us take a look.

I'll let Mike answer but I

Oxy Mora — Thu, 18 Dec 2014 23:36:29 +0000

In reply to What do you mean by "firmly

I'll let Mike answer but I just went looking at some of the background material and missed something cringeworthy---that none other than George P. Bush, previously an energy consultant, and eldest son of Jeb Bush will be taking over the Texas General Land Office which manages all the mineral rights to millions of acres of state owned land. His only statement so far was, "We don't need a patchwork quilt approach to drilling operations across the state". We all know what that means, we'll do what the industry wants.

This is getting even more disgusting when you think that papa Jeb has spent the better part of the last decade forming investment companies in the energy industry, including major investments in the shale gas sector.

Thanks, great points. I

Oxy Mora — Thu, 18 Dec 2014 22:50:20 +0000

In reply to There's a big chance here,

Thanks, great points. I assume that in New York the facilities which have been built are simply a write-off on the books of whomever is the parent company as presumably those sites will never again be operational. And I wonder about the long term environmental effects of just having those sites rust away. It would really be ironic if the state winds up footing the bill for closing down the sites if the companies go belly up. Lots of unintended consequences here like a leaner, meaner fracking industry---damn, that's serious.

I agree that the time is ripe for action, now that product prices are down. The fight in Denton is extremely important because if a city in Texas, the largest energy state, can win, the entire fracking industry could be adversely effected. The issue is whether the city even has the "right" to legislate a ban.

I think that not all fracking is bad, it's just that the industry goes anywhere it wants with little consideration of the people there, and even the people in Denton aren't universally against the idea, but they want studies and control of how the things are constructed and operated.

I'm am heartened by the ban in New York even more so than some other developments because of the "grass roots" involvement, which underlies all the hopes of Progressives to fight back against over reach by big corporations.

What do you mean by "firmly

barefooted — Thu, 18 Dec 2014 22:29:00 +0000

In reply to There's a big chance here,

What do you mean by "firmly in place"? It seems likely that when fracking regains its profitability, the entities that put the bans in place will cave to the pressure.

There's a big chance here,

Michael Maiello — Thu, 18 Dec 2014 22:04:25 +0000

In reply to Fracking bans widen, N.Y. joins Denton, Texas.

There's a big chance here, while low oil prices have the current frackers all out of sorts. One prediction... a lot of these fracking companies are funded by high yield debt, currently trading at distressed levels. Money is going to pour in from the distressed space. They will buy the debt sub 40 cents on the dollar and if it turns around, get paid a very high yield plus upside. If it doesn't, they will own the post-reord equity of these companies. Once that happens, you will have new equity owners, unencumbered by debt, and thus able to profitably frack and a lower per barrel cost. They will launch the next pro-fracking wave and it'll be furious. Best to get these bans firmly in place before that happens (I'd say we have max a 2 year window).