The fracking bubble explodes. Demolishing report of the prestigious National Academy of Sciences of the USA

The fracking bubble explodes. Demolishing report of the prestigious National Academy of Sciences of the USA

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The prestigious National Academy of Sciences has published report- Proceedings of the National Academy of Sciences- demonstrating in an unquestionable way the direct relationship between the practice of fracking and the contamination of the shallow aquifers of drinking water of houses in the state of Pennsylvania.

In the scientific study, the presence of chemical agents in drinking water samples taken from various homes and sources of drinking water near Marcellus Shale gas wells in operation is without doubt proven.

Although contamination of groundwater by natural gas and drilling fluid spills is known to occur, contamination of shallow drinking water aquifers has never before been fully documented.

from Pennsylvania, which caused flooding of natural gas and foam into the potable groundwater primarily used by multiple households.

Drinking water samples have found traces of a chemical normally found in liquids used during 'fracking' in the Marcellus shale deposit, which also extends south of neighboring and densely populated New York State. .

Through chromatological analysis of gases, a complex mixture of organic compounds has been detected in the aquifer, as well as the presence of a compound positively identified as 2-n-butoxyethanol (endocrine disrupting, and neurotoxic substance) in the water of a drinking source close to the gas platform at Marcellus Shale.

The markets have not been oblivious to the meaning of the ruling by the scientific community, and so David Einhorn, director and founder of the investment firm Greenlight Capital, said during a conference in New York that fracking companies are worthless.

According to this investor "Fracking companies pollute the profitability of the investment, it is a business that burns money and does not grow, they are worth nothing", indicating how inexplicable it is that Pioneer Natural Resources (fracking company) can have a market capitalization of $ 27 billion.

Einhorn advised investors if they are interested in oil to invest in the raw material itself. Doing it in fracking companies can be a fatal decision, since it is "Dramatically Overvalued", indicating that even if a barrel of crude is at $ 100 these companies will achieve strong income with respect to their indebtedness.

The influential investor also pointed to Concho Resources as an example of a company dedicated to hydraulic fracturing that invests a lot and generates few profits. In the same way as Pioneer, the shares of this company they began to fall after his words.
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