Wait, is it over? Somebody better tell the oil and gas people….
Check it out:
The fracking euphoria had to end. For three reasons. First, the claims for its benefits were wildly exaggerated, ensuring eventual disappointment as even a cheerful reality could not meet the imaginings of the pro-fossil-fuel gang. Second, environmental groups were not going to sit idly by, their formidable political weapons holstered, while fossil fuels received a new lease on life in America. Third, as has always been the case, the oil and gas industry, abetted by the railroads that have to move the stuff in the absence of adequate pipeline infrastructure, were insufficiently attentive to some of the problems involved in the production and transportation of the enormous gas and oil reserves made available by the new application of what is an old technology.
Not that fracking has not brought huge benefits to American industry. The processes of drilling for and extracting the newly accessible reserves has created hundreds of thousands of jobs, both directly and indirectly—the latter in the industries that feed, house and service the oil field workers