2019 WAS THE YEAR THAT FRACKING FELL APART

Probably the merriest fossil fuel stories of 2019 show the fracking industry on the verge of a meltdown.

Despite a raft of accounting gimmicks, the industry wasn’t able to hide the fact that it was drowning in red ink. By mid-year, Sightline’s Clark Williams-Derry reported that:

A cross-section of 29 fracking-focused oil and gas companies reported more than $2.5 billion in negative free cash flows in the first quarter of 2019. These results were even worse than in the fourth quarter of 2018…

 

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