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A Fracking-Driven Industrial Boom Renews Pollution Concerns in Pittsburgh - Yale E360
Once known as the Steel City, Pittsburgh is shedding its polluted past and embracing a rebirth built on health care, education, and technology. But the region’s surging fracking industry is attracting a $6 billion ethane plant and other petrochemical facilities, raising new pollution fears.
fracking  gsr  tripd  energy  foodwater  split 
2 days ago by bullfrogfilms
Ride-hailing, fracking, capital hunger, and future profits • Crunchbase
Alex Wilhelm:
<p>at some point in the future Lyft expects its “Adjusted EBITDA Margin” to reach 20%. That’s pretty slack, and the news gets even worse. Here’s <a href="https://twitter.com/ShiraOvide/status/1107993302614401025">more from [Bloomberg columnist Shira] Ovide</a>:
<p>I had to *really* squint to read the footnotes. “Adjusted” Ebitda excludes: depreciation and amortization, stock pay, charges to insurance reserves, acquisition related costs, income taxes and interest. Ok!</p>


In short, Lyft will, at some point in the future yet to be determined, generate 20% profit margins on its revenue, provided that we exclude an incredible slurry of material, GAAP costs from the calculations. The only way I can read the chart’s figures and its explainer text is that Lyft expects to never make money, and it wants you to know it.

A 20% operating margin would be mildly ok. It’s certainly not software-like performance, but Lyft could be big, and thus the profit material. But if your fake profit metric that strips out real costs only gets you to a 20% clear at some point, you aren’t going to have much profit at all, measured using normal metrics.

And this company wants $2bn more? After it has already raised $4.9bn?

A huge industry that can raise untold billions, whose profits are always out in the future? Ride-hailing isn’t the only game around when it comes to those terms. There’s also fracking.</p>


Fracking's even worse, it turns out.
fracking  lyft  ridesharing 
5 days ago by charlesarthur
New Warnings on Plastic’s Health Risks as Fracking Industry Promotes New 'Plastics Belt' Build-Out - Resilience
“China and Hong Kong went from buying 60 percent of the plastic waste exported by G7 countries during the first half of 2017,” the Financial Times reported, “to taking less than 10 percent during the same period a year later.”

The disruption is so severe that half of Philadelphia’s recycling — 200 tons a day — was sent right to the incinerator in the last few months, The Guardian reported on February 21.

The International Energy Agency warned in the summer of 2018 that the amount of plastic waste in the world’s oceans is on track to double in just over a decade. Roughly 100 million metric tons of plastic waste has already found its way into the world’s oceans — and every year, between 5 million and 15 million tons are added.

From there, researchers say plastic may be getting into the food chain — and even potentially into each of us. “Microfibers and other plastic microparticles are increasingly being documented in human tissues,” CIEL’s new report observes.
softapocalypse  rpg  climatechange  oil  plastic  fracking 
13 days ago by josephaleo
EPA Plans to Allow Unlimited Dumping of Fracking Wastewater in the Gulf of Mexico | Waking Times
Environmentalists are warning the Environmental Protection Agency (EPA) that its draft plan to continue allowing oil and gas companies to dump unlimited amounts of fracking chemicals and wastewater directly into the Gulf of Mexico is in violation of federal law.
news-eco  Baja-RC  fracking 
17 days ago by icresource

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