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Oil prices freeze the Illinois fracking boom

By Holly LaFon

Illinois may have missed the fracking boom, as oil prices simmer near $50 a barrel. But a heated drama to reclaim the gold rush is playing out downstate with a cast of environmental activists, big oil, farmers, politicians and Saudi Arabians.

Only one company, Strata-X signed up to apply for a permit to drill in Illinois to date. The boomtown era of just three years ago eroded rapidly over the past six months as oil prices lost half their value. Continue reading