U.S. BANKRUPTCY & BUBBLES
Count the intensity of the shale oil boom — and its severe bust — as one of the unintended consequences of the Federal Reserve's efforts to buttress the economy.
The hydraulic fracturing (fracking) method of extracting oil and gas from shale rock has been around for decades, but it didn't really take off until right after the financial crisis, when a confluence of events meant smaller drillers and speculators had access to billions and billions of dollars of relatively cheap financing.
In late 2008, the Fed embarked on an unprecedented…
Log in to read the publication.
An authorized user gets access to four FREE publications per month.
You can also buy a full access to all publications of the site since January 2014.