US fracking companies tipped from yet more debt to profit by Trump tax law change at end of 2016

e.g. EOG Resources: $1.1 bn loss in 2016. Would have lost $0.7 bn in 2017 but for GOP tax handout of $2.2 bn. It is still $6bn in debt.

Justin Mikulka, author of the article for desmog blog, makes this interesting point: “An interesting side note is that EOG stands for Enron Oil and Gas, which was spun off as its own company from Enron — the company notorious for one of the great energy Ponzi schemes of the 20th century. Today, an Enron spinoff company is being held up as the most fiscally sound in the shale oil industry.”

He also observes how this kind of scrutiny seems beyond the mainstream financial papers.

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