E Bomb? Putin Has Obama Over A Fracking Barrel Again

putin responds to obama
Putin Responds To Obama’s Latest Ultiumatum. Source

In the wake of Barack Obama’s latest complete humiliation at the hands of Vladimir Putin as the Ukraine crisis drags on, mainstream media in the west has continues to provide The Rent Boy President with the journalistic equivalent og Immaculate Body Service (look it up if you must, but not on a full stomach 😀 )

Take this article by Fraser Nelson in The Daily Telegraph for example:

For decades it has seemed as if God has played a great joke on mankind, granting the best fuel reserves to the worst places. Iran, Russia, Saudi Arabia, Turkmenistan [ … ]– As Vladimir Putin has found, if you own the gas which the rich world needs, then you can get away with murder.

Europe is a recession-struck continent dependent on a Kremlin-controlled energy price. Putin cleverly cut Gazprom tariffs to the region last year, ramping up its dependence on Russian gas to record levels. And in so doing, he effectively bought EU foreign policy.

He’d find it harder to buy America’s nowadays. As Barack Obama considers his options, he has a substantial new weapon that he is not sure how to deploy. In the last few years, the shale revolution has utterly transformed America’s energy fortunes. (Read all)

Poor little Fraser, even if his belief in shale were justified, he assumes Obama would have the nous or the balls to use America’s mythical abundance of gas to outmanoeuvre Putin.

Meanwhile, in a rare attack of journalistic integrity, Huffington Post reported this:

Deepening Doubts About Fracked Shale Gas Wells’ Long Term Prospects”

“The oil and gas industry has propagated a vision that fracking unleashes vast amounts of gas which then flows relatively steadily for decades. But a growing mountain of evidence suggests that nothing could be further from the truth. Shale gas wells dry up, sometimes long before they have produced enough gas to cover the costs of drilling and fracking them.”

In the oldest shale formation, Texas’s Barnett shale, many aging wells have had to be re-fracked multiple times to keep them from runningdry. Re-fracking costs millions of dollars and requires millions of gallons of water.

A review last year by the New York Times found that less than ten percent of 9,000 Texas shale wells had recouped their estimated production costs within their first seven years.

Continue reading at Huffington Post

Added to that, there is a huge body of opposition to fracking building up in the USA, with many far fetched horror stories about blazing rap water and awakening demons being given credibility.

The economic letown will be the deal breaker of course, when shale gas turns out to be no more viable a solution for our energy needs than windmills, a lot of people are going to lose a lot of money.

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