Bestselling author Bethany McLean reveals the true story of fracking's impact -- on Wall Street, the economy and geopolitics.
The technology of fracking in shale rock -- particularly in the Permian Basin in Texas -- has transformed America into the world's top producer of both oil and natural gas. The U.S. is expected to be "energy independent" and a "net exporter" in less than a decade, a move that will upend global politics, destabilize Saudi Arabia, crush Russia's chokehold over Europe, and finally bolster American power again.
Or Will it?
Investigative journalist and bestselling author Bethany McLean digs deep into the cycles of boom and bust that has plagued the American oil industry for the past decade, from the financial wizardry and mysterious death of fracking pioneer Aubrey McClendon, to the speculators who are betting on America's ascendance and the collapse of OPEC in the great game of geopolitics. McLean finds that fracking is a business built on attracting ever-more gigantic amounts of capital investment, while promises of huge returns have often not borne out. Overeagerness in partaking in a boom can lead to all types of problems and just as she did with the Enron story, in Saudi America McLean points out the reality and the risks of the inflated promises of the fracking boom.
Everyone knew it was crazy to try to extract oil and natural gas buried in shale rock deep below the ground. Everyone, that is, except a few reckless wildcatters - who risked their careers to prove the world wrong.
Things looked grim for American ...
In two earlier books, Hubbert's Peak and Beyond Oil, geologist Kenneth S. Deffeyes laid out his rationale for concluding that world oil production would continue to follow a bell-shaped curve, with the smoothed-out peak somewhere in the middle of th...
A Soul of the New Machine for our time, a gripping account of invention, commerce, and duplicity in the age of technologyA worldwide race is on to perfect the next engine of economic growth, the advanced lithium-ion battery. It will power the electr...
The “best all-around book yet on fracking” (San Francisco Chronicle) from a Pulitzer Prize finalist: “Gold's work is a tour de force of contemporary journalism” (Booklist).First invented in 1947, hydraulic fracturing, or frac...
Charles R. Morris's The Trillion Dollar Meltdown (2008) was the first book to warn of the impending financial crash in all its horrific scale and speed. Now, with Comeback, Morris reveals that the United States is on the brink of a strong recovery t...
Long before the rise of megacorporations like Walmart and Microsoft, Standard Oil controlled the oil industry with a monopolistic force unprecedented in American business history. Undaunted by the ruthless power of its owner, John D. Rockefeller, a ...
From the front lines of the fracking debate, a "field philosopher" explores one of our most divisive technologies.
When philosophy professor Adam Briggle moved to Denton, Texas, he had never heard of fracking. Only five years later he would success...
struggling with a recession . . . European nations at risk of defaulting on their loans . . . A possible global financial crisis. It happened before, in the 1970s. Oil Kings is the story of how oil came to dominate U.S. domestic and international af...
In 1871, an entire fleet of whaling ships was caught in an arctic ice storm and destroyed. Though few lives were lost, the damage would forever shape one of America's most distinctive commodities: oil.
New Bedford, Massachusetts, was fertile ground...
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