Shale gas is natural gas. How is it hurt by the coronavirus?

[Under The Radar]

Rarely used in automobiles, used for power plants, industrial heating and home heating. None of that is shut down, although it may slow a little. But that market has been slow for a few years now.
They are getting a bailout because they paid Trump to get one.

[enough]

1. An absurdly blatant example of disaster capitalism. NT

[pecosbob]

2. The oil shale industry is significantly impacted by changes in oil prices

due to marginal profitability...it's quite expensive to extract and process and is only viable when oil prices are high. Putin's recent refusal to curb production levels is seen by some as an attempt to drive them out of business (to drive prices downward beyond their ability to make money).

Environmentalists will clap their hands if this industry goes away and with it all the pipelines.

[dhol82]

3. The problem is the price war between Russia and Saudi Arabia.

They have brought the price of oil down to about $30/bbl. That brings about a major crisis for the fracking (shale oil) crowd. They need a minimum of $50-60/bbl to stay in business. At $30 they go bankrupt!
That is the problem.
They are baying at the moon in parts of Texans and Alberta.

[pecosbob]

5. Basically the Saudis pumping more oil to drive prices down to hurt the Russians

while the Russians pumping more oil knowing it hurts them monetarily short term in order to put their oil-shale competitors out of the picture. Personally I say screw them all.

[Under The Radar]

6. Damn the luck,

I received no help when recycling exports hit the wall in 2015. Had capital payments, 100 employees let go etc. but the IRS made certain that they got their share.

[RockRaven]

4. It's not. Trump's trying to use a "Shock Doctrine"-esque maneuver go give money to oil co's.

That's it. Just an opportunity to justify a major give-away of US funds to corporations.

Yes, US fossil fuel companies are going to get hammered by Russia and the Saudis. On purpose. A premeditated and purposeful "punishment" of that sector by Putin, because he spotted an opportunity (though those circumstances and his motives have nothing to do with the pandemic) and decided to strike. And the Saudis are on board, for their own reasons.

[Flaleftist]

7. Are they really getting a bailout? How are they getting jack shit without the House approving it?

[Under The Radar]

8. They haven't discussed it with Nancy yet.

Not a done deal by far

[Under The Radar]

9. I would advice Nancy make a $5billion deal but requires Trump to resign.

[Igel]

10. Gas prices are up.

Because oil prices are down.

No, it's not price gouging. A lot of natural gas production is a by product of shale oil production. Curtail one, you curtail the other. Same companies produce both. Putin, by hurting American oil producers (which are not, when it comes to shale oil, the big oil companies), are hurting the natural gas producers.

In Texas, you have to get down to the 8th or 9th largest producer before you get a nationally recognized oil company's name showing up. And in the top 35, there are maybe 3 recognizable names (if you include Marathon).