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Seb Kennedy's picture
Founding Editor Energy Flux newsletter

I am professional energy journalist, writer and editor who has been chronicling the renewables and fossil fuel energy sectors since 2008.  I am passionate about the energy transition, so much so...

  • Member since 2020
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  • Nov 3, 2020
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The US fracking industry is redoubling efforts to convince investors that the energy transition will not put it out of business. Environmental, social and governance (ESG) matters featured heavily in last month's frenzy of defensive M&A deals, as the atomised and debt-bloated shale sector seeks to consolidate in the face of a prolonged oil price downturn. The problem for the shale industry is that access to finance has already dried up. This belated push to burnish questionable environmental credentials cannot reverse recent years of brutal Wall Street losses from bankrolling unconventional oil and gas extraction.

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Matt Chester's picture
Matt Chester on Nov 3, 2020

Love the title, great article Sebastian. The reaction by stakeholders to what should be done with fracking will certainly underscore their ultimate goals: is it to engage with a true energy transition however that may look, or is it to find a square fracking peg to fit into a round clean energy hole? 

Seb Kennedy's picture
Seb Kennedy on Nov 3, 2020

Thanks Matt. You can probably guess my answer to that (i.e. this is a cynical embrace of ESG out of existential necessity), but interested to hear what others think. There might well be exceptions to that rule, or at least shades of brown in all the ESG BS out there!

Jim Stack's picture
Jim Stack on Nov 4, 2020

Fracking has been one of the worst ideas ever. It fractures the ground when deadly chemicals that Frackers won't disclose are used to get the last few drops of deadly crude Oil. The Fracked wells only last a year os so. The oli has to be extracted, then taken to a refinery. It then takes more electricity to refine it than an electric vehicle would travel using that same electricity. It then has to be transported to a gas station. Then it gets pumped with an electric pump into a car that is only 20% efficient. 

   What engineeer would come up with a plan like that? Who would approve a plan like that? It's a rouge PIG no matter how you look at it. 

 

 

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