Home » Business » TF1: From Hope to Disappointment — The US’s Bet on Shale Oil and Gas Extraction Has Failed – 2024-05-07 23:18:02

TF1: From Hope to Disappointment — The US’s Bet on Shale Oil and Gas Extraction Has Failed – 2024-05-07 23:18:02

/ world today news/ In recent years, the US has bet big on the development of the shale oil and gas industry, reports TF1. But the new breakthrough in black gold mining has turned into a disappointment, the TV channel said. The frenzied construction of drilling rigs led to the fact that the supply many times exceeded the demand for shale energy resources, causing a large-scale crisis in the industry. In addition, numerous gas pipeline accidents cause serious damage to the environment, the report emphasizes.

Here is the modern day, much lesser known face of Los Angeles. Hundreds of oil rigs dot the palm trees in residential areas, turning California’s capital into the nation’s largest urban oil region.

The US and oil is a big story. Donald Trump himself set the policy for the development of the fossil energy industry. In recent years, the country has bet everything on shale oil and gas, produced using the well-known hydraulic fracturing technique. However, as you will see, the new breakthrough in black gold mining later turned out to be a disappointment. Reporting by Amandine Atalay and Adrien Ponsard.

After the decade of plenty, it was like a bucket of cold water poured over the heads of thousands of Pennsylvanians. Seven years ago, the family agreed to have three shale gas drilling rigs located on their property. She is a waitress, he is a worker. They declare themselves pro-fossil fuels and vote for Trump.

DONNA WALDERBERGERownchka on the ground with shale gas drilling rigs: It was extremely exciting for us.

In the beginning, they earned a fortune – 500 thousand euros in the first year, 800 thousand in the second. Then the market crashed. Last year their losses amounted to 40 thousand euros.

DONNA WALDERBERGER: There is too much supply and not enough demand. Prices keep falling. My husband had to go back to work, we can no longer rely on incomethem from gasa.

Works on Donna’s section lasted six weeks. These include withdrawing the water and placing high-pressure chemicals to break up the rocks and produce gas.

DONNA WALDERBERGER: Here are all the trees that were cut down.

Pennsylvania flooded the gas market. 12,000 drilling rigs were hastily built – far too many compared to demand. As a result, hundreds of them are abandoned today, like this one. A local official who supports Trump is worried because 72 percent of voters in his district voted for the incumbent.

MIKE BELDING, clerk of Orkg Green, state Pennsylvania: Our entire economy is 100 percent shale dependenthas gas. These are and restaurant owners, and road carriers and repair enterprises. Without it, everything will die, that’s the only thing they do here.

Pennsylvania, the most important state for the presidential election, has more than 500 thousand jobs related to the shale industry. Hear what Donald Trump and Joe Biden, the Democratic candidate and environmentalist, have to say.

DONALD TRUMP, President of the United States: Joe Biden will ban hydraulic fracturing.

JOE BIDEN, candidate for the position President of the United States: I will not ban hydraulic fracturing. I repeat: I will not ban hydraulic fracturing.

Serious inconsistency in the speeches of “the greens” Joe Biden: he knows he has no chance of winning Pennsylvania by criticizing shale gas production, so he shuts up.

Meanwhile, the environmental consequences are dire. There are many incidents. Karen and her neighbor Barbara, who live on this hill in Pittsburgh, remember the year 2018: a pipeline carrying gas exploded, causing a giant fire.

KAREN GDULA, an eyewitness to the gas pipeline explosion: Nand the earth it felt a lot strong vibration, the house caught fire and the family could hardly get out alive. Now we live in permanent grasshim.

However, new gas pipelines continue to be built. This industrial state has not yet said its last word. He recently came up with a solution that would allow him to use all the gas that the utilities can’t sell. This giant plant will soon start producing plastic, thanks to hydraulic fracturing technology. And many Democratic voters welcome the decision.

MAN ON THE STREET: Of course, we want people to have jobs, to have a strong economy.

While much of the world is moving away from plastic, Pennsylvania has decided that its future is in it.

In conclusion, there is a picture showing how global warming has become a reality here. This hill near Los Angeles completely burned down last month. One and a half million hectares of forest burned in California this year. Imagine the entire Paris region wiped off the face of the earth. No less than nine thousand new buildings were destroyed. The economic cost of global warming is becoming overwhelming. Perhaps this will prompt policymakers to take action.

Translation: M.Zhelyazkova

#TF1 #Hope #Disappointment #USs #Bet #Shale #Oil #Gas #Extraction #Failed

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