Sunday, May 8, 2011
FRACKING: Hydraulic Fracturing or Hydrofracking is a process in which fluid is injected at high pressure into oil or gas deposits to fracture the rock formations and increase the recovery rate.
THE HALLIBURTON LOOPHOLE of 2005: the Dick/Bush Energy Bill exempted drillers from having to disclose the chemicals used during hydraulic fracturing.
THE US FRAC ACT of 2009: Fracturing Responsibility and Awareness to Chemical Act is a bill that would allow the EPA to regulate hydraulic fracturing in the US and require the energy industry to reveal what chemicals are being used. (the 111th Congress adjourned on Jan 3rd, 2011 without taking action on the FRAC ACT, and the 112th Congress has not re-introduced the bill)
HYDRAULIC FRACTURING: 9 out of 10 onshore wells now use FRACKING!
ADDITIVES & CONSTITUENTS:
KING HAL (Halliburton) :
... buy on the "oversold" dip!
SCHLUMB LORD (Schlumberger) :
... the $90 magnet.
(buy in the low 80's)
FACT or FICTION? ... GasLand.
THE TRUTH? ... of propaganda!
CHINA is FRACKING NUTS!!
In April 2011 CHINA completed its first horizontal shale gas well in Sichuan. The ministry of land and resources calculates the size of the shale gas reserves at 26,000 billion cubic meters - more than 10 times the known holdings of conventional natural gas. The world's largest user of energy just started fracking, it's still early ... BUY THE FRACKING DIP!
p.s. Happy FRACKING Mother's Day!