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Fracking’s future is in doubt as oil price plummets – Climate News Network

Fracking’s future is in doubt as oil price plummets – Climate News Network

By Kieran Cooke, climate news network

LONDON, 6 January, 2015 − There’s no doubt that US-based fracking – the process through which oil and gas deposits are blasted from shale deposits deep underground – has caused a revolution in worldwide energy supplies.

Yet now the alarm bells are ringing about the financial health of the fracking industry, with talk of a mighty monetary bubble bursting − leading to turmoil on the international markets similar to that in 2008.

In many ways, it’s a straightforward case of supply and demand. Due to the US fracking boom, world oil supply has increased.

Read more at: Fracking’s future is in doubt as oil price plummets – Climate News Network.