Rich Kremer, writing for Wisconsin Public Radio, said in an article that despite oil prices reaching highs not seen since 2011, analysts say they don’t expect shuttered frac sand mines in Wisconsin to spring back to life anytime soon.
The ongoing Russian invasion of Ukraine and a myriad of international sanctions levied against Russian government officials and oligarchs have helped push oil prices above $100 per barrel. As of Wednesday afternoon, the price for a barrel of West Texas Intermediate, or WTI, crude oil reached $112.18.
The last time oil prices were that high was June 2011. At that time, Wisconsin was in the midst of a major industrial sand mining boom with companies from around the United States rushing to build new sand mines, processing facilities and railcar loading facilities to supply hydraulic fracture drilling for oil and gas in places like Texas.