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Low Oil Prices Putting The Freeze On Fracking Projects Around The World
2014-12-08 11:26:00| Climate Ark Climate Change & Global Warming Newsfeed
Business Insider: The collapse of oil prices may have a bigger impact on the shale boom than anyone realizes. The biggest threat may not be to the existing wells in the US, but the untapped resources around the world. According to Bloomberg, "Russia, China, Australia, Mexico and Argentina hold some of the [world's] richest shale reserves," but haven't yet invested in the fracking technology to drill them. Because the price of oil isn't high enough to cover the costs, there's just no economic incentive to start....
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