Crude oil is $86 today.... beginning of the end?

Exactly. And whether anyone else agrees or not...your theory is just as probable as the others. Personally, I think it makes more sense.

"Hasbeen"... those arguments are nothing new. There has been controversy for a few years now over earthquakes and water contamination by fracking. My guess is that its just like any other argument...the real truth is somewhere in between.

 

TX, OK and ND are very oil and gas friendly. I don't think you'll see them get onboard with the frack ban crowd. Other states....possibly. But...if you have TX, OK and ND...that's most of the o&g anyway.

 

Denton TX has banned fracking.

http://www.reuters.com/article/2014/11/05/us-energy-texas-fracking-idUSKBN0IP1K120141105

 

If earthquakes along with water contamination keeps on happening around places where fracking is being done those places will not stay friendly and I would not blame them.

Of course the ones making the big money off of fracking will never admit it causes such a problem and even if they admit it the only thing they care only about is the MONEY.

Time will tell yet of course those after the money could care less, the money is the only thing that counts to them, if it causes others trouble they consider it their problem while they laugh all the way to the bank with their money.

 

Quick question for anyone who believes fracking causes earthquakes....

How deep are we drilling? 15,000 ft is deepest I have found.

How deep are the earth quakes epic center? you know where they start?

Yes Fracking causes thousands of tiny earthquakes... that is exactly what it is designed to do, to open up the cracks and fishers in the rock formations... But those formations are not the formations that move, causing the magnitude 2+ quakes that can be felt, that also start at depths of 5 miles to 50 miles..

are the two events actually connected?

 

Is it also designed to contaminate the water?

What about all those people whose water had been ruined?

Shouldn't their rights come 1st?

Should an outsider who is trying to get rich be allowed to ruin their water supply?

Tiny earthquakes just might cause larger ones later on, and earthquakes are very dangerous.

Recently on TV it showed the damage done to many house in an area where fracking was taking place, should the fracking people be allowed to ruin peoples homes?

Of course they should not be allowed to destroy peoples water nor their homes.

Of course some place their money wanting above peoples rights to protect their water and their homes.

 

There has not been one proven case of fracking contaminating ANY water anywhere in this country. IF it ever did happen do you really think there wouldn't be a multi million dollar lawsuit splashed all over every news program and yet there are none. None of this takes place anywhere near the water table. It looks bad but just from a strictly financial standpoint it doesn't make sense for the oil companies not to make darn sure they mind their Ps and Qs with the environment. Look at what happened to BP with the Gulf spill.

The "burning water" from the faucet stories have been explained away and had nothing to do with fracking. I might buy the theory that somehow the deep injection wells for the waste water are causing the smaller earthquakes but I'm not even sold on that. There have been quite a few earthquakes in Irving, TX over the past couple weeks and there aren't any fracked wells in the area so maybe it's just mother nature.

 

Exactly, there is zero factual evidence implicating water pollution from fracking. However, there is some preliminary evidence supporting minor earthquakes caused by deep disposal wells, but not by fracking.

 

Drinkable water is only available down to a depth of 3000 feet... after that the water is naturally contaminated by the dissolved salts and minerals, along with methane.

I grew up beside an artisan well, that one could light with a match, due to the natural methane.

Sorry Earthquakes are a NON event... you have a larger risk of being struck by lightning. And even the earthquakes that have been attributed to wells, were deep disposal wells, where they were pumping liquids into the formations. There are other ways to handle the "waste water", than pumping it down an old well.

News reports are not facts, but sensationalist propaganda today.

There is a long drawn out battle in Pavilion WY over fracking contaminating the ground water... After many different studies, by more than one entity, it was shown that fracking did not contaminate the water... As any one who had any knowledge of the area already knew, the ground water in the area has always been non potable. That is why everyone hauled in drinking water, before the first oil and gas well was ever drilled.
http://www.huffingtonpost.com/2013/07/03/epa-fracking-study-pavillion-wyoming_n_3542365.html

Now there have been some spills of that so toxic frac water... which is 95% water, 4% quartz sand, and 1% chemicals... and most of those chemicals are contained in every day dish soap. The amount of acid, is less than 0.1%, less than the drano people use to unclog their home plumbing.... so who is contaminating the ground water?

And we are officially off track again, from the title of this thread.

 

Back to the subject of this thread, as oil slides around at $50, then down ward slide continues....
so yes $86, was the beginning of the end

Oil Drillers Pull Most U.S. Rigs in More Than Two Decades

http://www.bloomberg.com/news/2015-01-09/u-s-oil-rigs-decline-by-most-in-a-week-since-1991.html

Oil rigs fell by 61 to 1,421, Baker Hughes Inc. (BHI) said on its website today, extending the five-week decline to 154. The 2014 peak was 1,609. It was the largest drop since February 1991.

Contract drillers Helmerich & Payne Inc. (HP) and Pioneer Energy Services Corp. (PES) both said this week that they’ve had clients pay fees to terminate rig contracts early. Helmerich & Payne said in a presentation Jan. 7 that 40 to 50 of its FlexRigs will be idled in the next 30 days.

Ensign Energy Services Inc. (ESI) told California regulators last month that it was dismissing as many as 700 workers after an “early and unexpected termination” of drilling contracts.