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Saturday, June 4, 2016
Is the fracking boom dead?
For anyone who thought that fracking was a bridge to the time when renewable energy was used for our energy needs should watch this video. I have a cousin who lives in the town in the video. A few years ago I visited Towanda and saw the boom. Water tankers were constantly on the road 24 hours a day. Money flowed to landowners at a rate that made them instantly wealthy. Checks of tens of thousands of dollars a month were not uncommon. Banks had signs telling the newly wealthy to stop in so they could tell them how they could invest their riches. Now the checks only amount to hundreds a month if they are coming at all. We also learn how the fracking companies cheated people out of royalties. The sudden riches was like a drug that now is leaving the community damaged.
Posted by duanestclair at 4:45 AM