Fracking Ponzi scam explained

This presentation is well worth watching to understand the manoeuvrings of companies like Bridgend’s Coastal Oil & Gas and their Australian partners, Eden Energy, as they speculate over the gas potential of South Wales and many other areas.

It in no way diminishes the threat that the industry poses, but serves to underline the just how immoral the whole industry is, and how we should distance ourselves from it for ever more reasons than already documented. It offers a sound argument for not allowing test drilling as it is effectively used to create the speculative data to encourage the speculation that underpins the scam.

It focuses on the Marcellus formations in the USA – but the principles are exactly the same here in South Wales and other frack threatened areas.

NB : Bilk – definition:
1. Obtain or withhold money by deceit or without justification; cheat or defraud.
2. Obtain (money) fraudulently.

This all puts this report from Eden Energy into context for you:

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