The Fracking Boondoggle

The data has been out there for a long time. Fracking was a money pit for investors. I heard $500 billion in capital lost. Everyone should read this. From the New York Times:. Hardly Anyone Talks About How Fracking Was an Extraordinary Boondoggle

From 2006 to 2014, fracking companies lost $80 billion; in 2014, with oil at $100 a barrel, a level that seemed to promise a great cash-out, they lost $20 billion. These losses were mammoth and consistent, adding up to a total that “dwarfs anything in tech/V.C. in that time frame,”

How two Texas megadonors have turbocharged the state’s far-right shift

I usually don’t watch CNN but stumbled on this hour long piece. Worth watching. Explained lots of thing about Texas politics that I didn’t understand. A good quote:

Kel Seliger, a longtime Republican state senator from Amarillo who has clashed with the billionaires, said their influence has made Austin feel a little like Moscow. “It is a Russian-style oligarchy, pure and simple,” Seliger said. “Really, really wealthy people who are willing to spend a lot of money to get policy made the way they want it — and they get it.”

How two Texas megadonors have turbocharged the state’s far-right shift