Shaky Financial Foundation Leaves US Shale Market Vulnerable Amid Economic Uncertainty

Mar 24, 2020

Shale drilling in the US has produced record volumes of oil and natural gas in the last decade, but the industry and struggled to achieve profitability, racking up billions of dollars in debt. Now in midst of an international price war and global pandemic, the financial future of shale looks uncertain. To find out more, KDNK’s Lucas Turner spoke to attorney and freelance reporter Sharon Kelly about her recent article in Desmog Blog, titled Stock Market Turmoil Undermines Claimed Energy Dominance Benefits of US Shale Drilling

Aerial view of the Roan Plateau in western Colorado, taken on April 17, 2007. Natural gas and oil wells in the Rulison Field (part of the larger Piceance Basin energy development) cover the foreground at the base of the Plateau.
Credit Ecoflight

Sharon Kelly is an attorney and freelance writer based in Philadelphia who has reported for outlets like The New York Times, The Guardian and The Nation. You can find more of her work here.

You can hear the full interview with Sharon Kelly on KDNK Thursday, March 26th at 4:30 pm.