Could Fracking Debt Set Off Big Financial Tremors?Knowledge Wharton
Author Bethany McLean and Jyoti Thottam, business and economics opinion editor for The New York Times, discuss the risk of a financial crisis arising from the fracking industry's high debt load.
Mystery and high stakes often go together, as is the case with fracking — the process of using high pressure to extract oil and gas from shale rocks buried deep under the earth’s surface. Fracking companies are hot destinations for investors chasing yields and growth industries, especially private equity companies, in part because of the large appetite the capital intensive industry has for debt. However, several warning signs . . .
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