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Joshua Frank – Are the Fracking Vampires Going Bust?

I’m a vampire, baby,
suckin’ blood
from the earth.
Well, I’m a vampire, babe,
sell you twenty barrels worth.

-Neil Young (Vampire Blues)

Oil is crashing, and gas prices at the pump keep sliding lower and lower. As of October 2015, a barrel of Brent crude (the global standard) is selling for less than $50, that’s nearly half of what a barrel cost last year at this time. What does all of this mean? You wouldn’t likely think that a significant drop in oil prices could actually be a good thing for the environment and a bad thing for Big Oil and dirty frackers, yet it may well be.

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