300 billion – thats the price tag for figuring out how to wrench oil and gas from rocks profitably. Thats a big price tag. That being said, considering what renewable energy developments cost every year and also that this covers a development cycle that stretches back almost 20 years, that’s still lunch money. Oil prices will go through the roof this year. Potentially more than USD 100.-. This means that the 300 bn will be made back faster than they were spent.
After years of booms and busts that produced astronomical losses along with a whole lot of oil, the fracking industry seems to have found a sweet spot.