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A Rolling Loan Gathers No Loss: Fracking, COIVD 19, and Zombie Finance

In 2000 the United States was the world’s largest importer of petroleum, taking in over 10 million barrels/day (bbl/d), consuming one-quarter of the world’s petroleum output but producing less than 10% of global bbl/d.[1] in 2019 the United States was a net exporter of petroleum and petroleum products – and the world’s largest producer.

What happened?

In two words: hydraulic fracturing, or in one word, fracking.

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