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U.S. Democrats Just Accidentally Sparked A Federal Fracking Boom

Fracking Democrats

Eyeing more restrictions on drilling following the 2020 presidential election, some U.S. oil and gas companies may accelerate fracking on public lands over the next year.

Democrats Fracking

Concho Resources said that in order to mitigate risk from a potential ban on fracking in 2021, the company is running rigs on its federal acreage now.

The comment comes in light of the relatively strong rise of Massachusetts Senator Elizabeth Warren, who is arguably the front runner, or at least in the top tier. Vermont Senator Bernie Sanders has trailed a bit, although a new poll from New Hampshire has him in first place there. Former Vice President Joe Biden, who offers up a more industry-friendly approach to energy and climate change, has slid in the polls. He is still considered among the top tier, but his fundraising has been anemic, his performance halting and unconvincing, and his momentum heading in the wrong direction.

Senators Bernie Sanders and Elizabeth Warren have both promised to ban hydraulic fracturing. As president, neither would be able to outright ban the practice entirely, as it would require an act of Congress. But their ability to disrupt the use of fracking on federal lands would be much greater.

“‘If Sen. Warren were to win…’ was getting a lot of airtime in our meetings,” Jake Roberts, an exploration-and-production analyst at Houston’s Tudor, Pickering, Holt & Co., told the Wall Street Journal recently. “We were surprised to see people taking it so seriously.”

Tudor Pickering said that if fracking were banned, oil and natural gas prices would spike and many oilfield services companies would be forced out of business. A mid-October analysis from RBC Capital Markets found that Talos Energy was most exposed to a regulatory crackdown, largely the result of a hypothetical ban on offshore drilling in federal waters.

A Cowen Inc. analyst told the WSJ that some companies that have a relatively heavy reliance on federal lands have underperformed lately, “coincidentally, or not.” Those include, Devon Energy, Concho Resources, and Occidental Petroleum. Meanwhile, companies like Kosmos Energy, Hess Corp., and Apache Corp. would lose little, Sanford C. Bernstein analysts said in early October.

Ironically, some of the oil majors might stand to benefit, since higher prices would boost revenues from their oil and gas sales elsewhere, offsetting their losses in the Permian and other shale basins. Canadian oil producers would also benefit as some of their shale competitors are knocked on their backs, although Canadian pipelines traveling to the U.S. would likely be on the chopping block as well.

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The post U.S. Democrats Just Accidentally Sparked A Federal Fracking Boom appeared first on The Global Warming Policy Forum (GWPF).

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About the author

    Martin Harris

    I have a lovely partner and 3 very active youngsters. We live in the earthquake ravaged Eastern Suburbs of Christchurch, New Zealand. I began commenting/posting on Uncensored back in early 2012 looking for discussion and answers on the cause and agendas relating to our quakes. I have always maintained an interest in ancient mysteries, UFOs, hidden agendas, geoengineering and secret societies and keep a close eye on current world events. Since 2013 I have been an active member of theCONTrail.com community, being granted admin status and publishing many blogs and discussion threads. At this time I'm now helping out with admin and moderation duties here at Uncensored where my online "life" began.

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