Aerial view of fracking wells.

IEEFA update: Bankruptcies multiply for fracking sector

by Kathy Hipple, IEEFA, January 28, 2020


Highlights

Forty-two companies within the United States that have fracking based portfolios filed for bankruptcy in 2019:

  • In total, the aggregate debt of these companies was $26 billion
  • The fracking sector struggled due to overproduction, gas and oil prices, and increasing debt throughout the past 5 years
  • Moody’s Credit Rating assesses that the fracking industry never recovered from oil price slumps in 2015-2016

With the cost of renewables in steep decline, The Climate Center has laid out a roadmap that leaves natural gas behind in favor of 100% renewables with a vast network of community microgrids for resilience. See our new policy roadmap for state legislators.


Read more: https://ieefa.org/ieefa-update-bankruptcies-multiply-for-fracking-sector/

Nina Turner
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.