GasBuddy Blog

Message Forum - Read Message

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Fracking States Losing Jobs And Revenue As Industry Shrinks	Post a Reply Back to Topics

Cakes77 Champion Author Harrisburg Posts:5,171 Points:1,654,695 Joined:Aug 2006	Message Posted: May 14, 2012 6:37:22 PM Ignore Cakes77 Report Abuse May 14 (Reuters) - While Pennsylvania, northwestern Louisiana and gas-rich areas around the Gulf of Mexico are losing jobs and revenue as the fracking industry shrinks after a price collapse, oil-rich North Dakota and Texas are in the midst of a boom. Other winners in the fracking lottery include central and southern Louisiana, Mississippi, Ohio and Wyoming, where the economy is expanding and revenues are climbing. As oil prices are expected to stay around $100 a barrel for at least a couple of years, the success of these states may last longer. But the high volatility of energy prices may give local economies a headache. With natural gas prices touching 10-year lows three weeks ago, there could be more pain ahead for gas-rich communities and states where fracking was until recently a g Visit Huffington Post for full article

Cakes77

Champion Author
Harrisburg

Posts:5,171
Points:1,654,695
Joined:Aug 2006

Message Posted: May 14, 2012 6:37:22 PM

Ignore Cakes77 Report Abuse

May 14 (Reuters) - While Pennsylvania, northwestern Louisiana and gas-rich areas around the Gulf of Mexico are losing jobs and revenue as the fracking industry shrinks after a price collapse, oil-rich North Dakota and Texas are in the midst of a boom.

Other winners in the fracking lottery include central and southern Louisiana, Mississippi, Ohio and Wyoming, where the economy is expanding and revenues are climbing.

As oil prices are expected to stay around $100 a barrel for at least a couple of years, the success of these states may last longer. But the high volatility of energy prices may give local economies a headache.

With natural gas prices touching 10-year lows three weeks ago, there could be more pain ahead for gas-rich communities and states where fracking was until recently a g
Visit Huffington Post for full article

REPLIES (newest first)Ignore Short Messages

PDQBlues Champion Author San Diego Posts:7,089 Points:1,451,250 Joined:Jan 2009	Message Posted: May 16, 2012 7:35:04 PM Ignore PDQBlues Report Abuse Thus, the problem of over dependency on fracking. When the price plunges, so does any profit.
Cakes77 Champion Author Harrisburg Posts:5,171 Points:1,654,695 Joined:Aug 2006	Message Posted: May 15, 2012 3:48:27 PM Ignore Cakes77 Report Abuse Thanks for your feedback about this article.
BurtB Champion Author Los Angeles Posts:5,191 Points:1,369,015 Joined:Jun 2006	Message Posted: May 15, 2012 1:35:39 PM Ignore BurtB Report Abuse But there is so much more emotional satisfaction in following the party line at the Huffington post, johntxx. You can "think" you are morally superior to others. You can congratulate yourself for being "for the environment", without actually looking at the data to see what your "emotionally satisfying" policy actually created in the real world. You can hold yourself out as a moral arbiter who "does not care about profits", when Profit and Loss has produces a higher standard of living than those states who have governments control production thru fiat.
johntxx Champion Author Texas Posts:2,800 Points:619,245 Joined:Aug 2011	Message Posted: May 15, 2012 11:55:44 AM Ignore johntxx Report Abuse From article: "Fracking is a drilling technique that extracts oil and gas from shale by blasting it with water, sand and chemicals." WRONG! Hydraulic fracturing is not a drilling technique--more false reporting by Huffington Post's clueless contributors. Hydraulic fracturing is a process that is utilized after the well has been drilled, the casing has been cemented in place, and is part of the well completion process. If you what to educate yourself and not just following along as an ignorant sheep, this site contains a wealth of information on hydraulic fracturing, Hydraulic Fracturing: The Process. [Edited by: johntxx at 5/15/2012 12:57:33 PM EST]
blueBMW480 Champion Author Nashville Posts:818,391 Points:842,915 Joined:Jan 2011	Message Posted: May 15, 2012 8:10:56 AM Ignore blueBMW480 Report Abuse Ok
investmentdr Champion Author Cleveland Posts:4,039 Points:1,457,750 Joined:Sep 2008	Message Posted: May 15, 2012 8:09:12 AM Ignore investmentdr Report Abuse I wonder how many would recognize reality if it bit them
investmentdr Champion Author Cleveland Posts:4,039 Points:1,457,750 Joined:Sep 2008	Message Posted: May 15, 2012 8:08:18 AM Ignore investmentdr Report Abuse nat gas prices are still extremely low (even after the recent bounce); not surprising
the1roadhog Champion Author Atlanta Posts:9,913 Points:2,058,530 Joined:Jun 2007	Message Posted: May 15, 2012 7:22:54 AM Ignore the1roadhog Report Abuse Someone is not surfacing ALL the facts about the up and downsides of fracking.
LetemEatCake Champion Author Oklahoma City Posts:5,615 Points:1,207,555 Joined:Mar 2008	Message Posted: May 15, 2012 7:10:16 AM Ignore LetemEatCake Report Abuse Because HuffPo reports it...doesn't make the article untrue. Basic logic tells us low gas prices will reduce drilling = lost jobs. What is Liberal about that?
Rich1430 All-Star Author Indiana Posts:761 Points:260,340 Joined:Mar 2012	Message Posted: May 15, 2012 12:17:45 AM Ignore Rich1430 Report Abuse Do not believe much of anything You read from HuffPo. They lie just as bad as most other mainstream media outlets. They would not know the truth if it bit them.
MusicalMan7 All-Star Author Ohio Posts:597 Points:93,430 Joined:Apr 2012	Message Posted: May 14, 2012 11:49:57 PM Ignore MusicalMan7 Report Abuse I know there aren't any fracking jobs in fracking Ohio...
CdnLynx Champion Author Ontario Posts:1,024 Points:525,835 Joined:May 2008	Message Posted: May 14, 2012 11:32:12 PM Ignore CdnLynx Report Abuse You really have to love the press (not); besides this is Huffington Post (Green); and how they write articles, in an effort to get people to read and riled. Tired of agenda's, hidden or not! Just the truth; not rhetoric, bias, etc. Natural gas prices are down, so drilling of new wells are down. The word fracking is thrown into the mix for readership. Does not matter whether some state or province w/natural gas fracks or not; gas wells are down period. Warm winter in N. America causes cut back in gas consumption. Personally my N.gas consumption was way down and $$ saved; very little snow and subsequently very less shoveling. Win/Win for me!! [Edited by: CdnLynx at 5/15/2012 12:35:54 AM EST]
1momsunshine Champion Author Ottawa Posts:5,505 Points:1,003,505 Joined:Mar 2010	Message Posted: May 14, 2012 11:23:27 PM Ignore 1momsunshine Report Abuse ok
drpepperTX Champion Author Texas Posts:8,964 Points:755,135 Joined:Apr 2011	Message Posted: May 14, 2012 9:25:08 PM Ignore drpepperTX Report Abuse Oil is and will continue to boom, NG is certainly in a glut right now but has bounced back by about 25% recently into the $2.40 per MCF range. It will be very ironic if the anti-fracing movement does get NG production slowed down and drive prices back up.
aquarinut Champion Author British Columbia Posts:1,628 Points:437,605 Joined:Jul 2011	Message Posted: May 14, 2012 8:31:26 PM Ignore aquarinut Report Abuse OK... Huff Post... enough said.
RRBC Champion Author Victoria Posts:2,720 Points:531,990 Joined:Oct 2011	Message Posted: May 14, 2012 8:26:17 PM Ignore RRBC Report Abuse High energy prices, and low Nat'l gas. What to do?
TomT2Lee Champion Author Cincinnati Posts:5,362 Points:1,599,705 Joined:Sep 2005	Message Posted: May 14, 2012 8:06:23 PM Ignore TomT2Lee Report Abuse Well said Joeski1. However, don't get between the average American and cheap gas.
graceman Champion Author Baltimore Posts:4,968 Points:1,158,725 Joined:Jun 2008	Message Posted: May 14, 2012 7:58:33 PM Ignore graceman Report Abuse I agree with Point_man
Point__man Champion Author Raleigh Posts:4,350 Points:880,620 Joined:Oct 2010	Message Posted: May 14, 2012 7:46:08 PM Ignore Point__man Report Abuse why does one get so much lower and the other not do so ?
Joeski1 Champion Author New Jersey Posts:10,017 Points:1,744,760 Joined:Dec 2004	Message Posted: May 14, 2012 7:22:27 PM Ignore Joeski1 Report Abuse the gypsys will travel to the next town to perform their usual pilage and plunder and hide the dirty waste down under ... and then poof were gone.. and the taxpayer gets stuck with the cleanup... in the process.. our gov't gives them tax breaks, and all corporate carte blanche... and all we do.. is pay.. pay.. pay.... who is getting fooled by the fossil foolers?
doeslayersr Champion Author Illinois Posts:9,133 Points:874,930 Joined:Dec 2010	Message Posted: May 14, 2012 7:14:23 PM Ignore doeslayersr Report Abuse Consider the source.
playtimeCLE Champion Author Cleveland Posts:8,575 Points:1,547,300 Joined:Nov 2008	Message Posted: May 14, 2012 6:52:22 PM Ignore playtimeCLE Report Abuse With the natural gas market flooded, its the oil locations that are going to make more money.