Fracking in Texas

I was looking for info on fracking in Texas. There have been large numbers of bankruptcies for years and my understanding is that the whole endeavor never made money, but consumed hundreds of billions of dollars in investment. Still looking for that data (although a count of bankruptcies is easy to find).

Ran across this really good article from the New Yorker from 2018 that is worth a read. A bit dated but it seems to spell out the end for the fracking boom and perhaps oil and gas in Texas. My favorite quote (and there were a few good ones):

“Societies that depend on natural resources tend to have certain inherent problems. The limited concentration of wealth—whether from oil, coal, diamonds, or bauxite—often leads to corruption and authoritarianism. Venezuela, Saudi Arabia, and Louisiana are primary examples.”

The Dark Bounty of Texas Oil

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s