A new financial crisis is threatening to dwarf the ‘subprime’ mortgage debacle, writes Paul Mobbs. Cheap money from central banks has fuelled some $1.3 trillion of risky investments in high-cost ‘unconventional’ oil and gas. Now, with oil sinking below $60, all that paper is turning to junk – and that’s putting the entire economic system at risk

Source: www.theecologist.org

Brilliant must-read analysis in The Ecologist on the fracking Ponzi scheme and its future downfall.

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