Home > Enviroment > Shale oil and gas economics expert speaks to CO voters

Shale oil and gas economics expert speaks to CO voters

November 3, 2013 Leave a comment Go to comments

Last week, Earthworks and our board member Deborah Rogers traveled to Colorado to talk about fracking’s false economic promise.

This election, Coloradans in Front Range communities (like Fort Collins and Boulder) are deciding whether to impose bans or moratoria on fracking within city limits. And as they consider, they may well be misinformed.

That’s because the public debate about fracking-enabled oil and gas development is often framed as “uncertain environmental and health risks” vs “certain economic benefits” – in other words, a traditional jobs vs environment argument.

Deborah, in collaboration with the Post Carbon Institute, has published research that shows the economic benefits of fracking-enabled oil and gas development are likely short-lived – that we’re not dealing with a Shale Boom, but instead a Shale Bubble.

The Shale Bubble research, based on industry SEC filings and the same data used by the Energy Information Administration, shows that shale oil and gas wells are depleting so quickly that they’re simply not profitable for long enough to be worthwhile. And that major investors in shale are selling out as this becomes apparent.

Deborah took this information to packed crowds in Fort Collins, Boulder, and Broomfield (and the Denver Post, and the Colorado Oil and Gas Conservation Commission, and the Colorado Department of Natural Resources) where lively discussions hopefully opened some eyes to the possibility that the economics, as well as the environmental impacts, are a cause for concern regarding fracking.

[Check out Shale Bubble research here. See video of the Fort Collins event here.]

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