Friday, November 14, 2014

And this is why I follow blogs on the Internet - TV news never told me about THIS.

The Fall of U.S. Fracking? (Click on this heading to read more)

Fracking Industry Damaged by Saudi Arabia Oil Pricing .
The U.S. oil industry has taken a beating from the recent drop in oil prices, which have plunged more than 25% since the summer.
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Oil and oil service stocks across the board have been bruised… but none more so than those related to the fracking industry.
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You see, fracking is an expensive process compared to conventional oil extraction techniques – a situation that became grave three weeks ago, when Saudi Arabia decided to try to run U.S. oil out of business by dropping the price of its crude oil.
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Now, it looks like fracking may be the first casualty in this worldwide oil war.

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