Fracking Financing = Ponzi Scheme?

Fracking Financing = Ponzi Scheme?

Mike Stagg, a film maker and community activist, gives a great recap and an update on Helis Oil & Gas’ scheme to frack in St. Tammany Parish.  Of particular interest, Mike discusses how falling oil prices exposes an ugly financial secret about fracking. He says, “fracking is like a Ponzi scheme in that companies must borrow money to drill, as long as they keep drilling they borrow money to pay earlier debt.”

Listen to the  Whole Interview Here!

Demonstrating the degree of regulatory capture, when an institution or governmental entity whose purpose is to protect the public turns instead to protect the industry it is supposed to regulate, Mike Stagg describes our experience as citizens of St. Tammany parish as we stand up for our community, and in many cases, against our Governmental employees. You know, guys like Troy Dugas and Don Shea.

“Regulatory capture is when an institution or governmental entity whose purpose is to protect the public turns instead to protect the industry it is supposed to regulate.”

What can you do to help?  Join SAVE ABITA and hundreds of concerned citizens at the Interactive Symposium and Workshop led by Dr Adam Briggle and Amber Briggle, co-architects and organizers behind the successful effort to ban fracking in Denton, Texas. REGISTER HERE, and NOW!

It’s encouraging to hear comments about our resistance to fracking in St. Tammany Parish as being a “groundwell” movement.  Please join us and help SAVE ABITA!