Texas
Related: About this forumAfter the Boom in Natural Gas
Good job on article.
At its peak, Chesapeake ran 38 rigs in the region. All told, it has sunk more than 1,200 wells into the Haynesville, a gas-rich vein of dense rock that straddles Louisiana and Texas. Fed by a gold-rush mentality and easy money from Wall Street, Chesapeake and its competitors have done the same in other shale fields from Oklahoma to Pennsylvania.
http://www.nytimes.com/2012/10/21/business/energy-environment/in-a-natural-gas-glut-big-winners-and-losers.html?_r=1&nl=todaysheadlines&emc=edit_th_20121021
dballance
(5,756 posts)My dad worked for the TVA; one of those socialist/communist organizations the RW rails against despite the fact it brought electric power to millions. My mom used to tell us about how the TVA helped wire her house and we still have the oil lamp from her childhood that was converted to electricity.
I hope the workers get some concessions from management. I'm sure they deserve them.
mbperrin
(7,672 posts)Thousands who came from far away will be trapped in place with no way to return to family, friends, or other support.
Crime, alcohol and drug use will soar.
Former boom communities will become slums.
Then the next time there's an uptick in price, there'll be the same old chorus, "Yay, the boom will save us."
90+ years of Texas history.
TexasBushwhacker
(20,044 posts)I tell any young person that's looking to make a lot of money working on the rigs to do it, but to save their money and plan on another career for the long term. Can you make a lot of money? Yes. For a long time, steadily? Hell no. I think they should give a special warning to anyone wanting to study petroleum engineering in college. It's feast or famine. It has been for decades.