FRACKERS


FRACKERS

GREGORY ZUCKERMAN    Book Number: 84864    Product format: Paperback

An award-winning Wall Street Journal reporter uncovers the outrageous inside story of the new energy revolution. A grizzled 83 year old rancher in south Texas owed millions of dollars to various lenders. Pointing to his rolling acreage like a proud parent, William Butler describes how a representative of Conoco-Phillips had come knocking on his office door to ask if the huge oil company could drill on his property. It turned out that the type of rock called shale was buried more than a mile below its surface. The rock was soaked with oil that suddenly had become accessible. Almost overnight, Butler's land was transformed into some of the most valuable acreage in the world. The author writes, 'The more work I put into the topic, the clearer it became that a burst of drilling in shale and other long-overlooked rock formations had created the biggest phenomenon to hit the business world since the housing and technology booms...Especially if shale drilling catches on around the globe.' Rising production from dense rock has sent natural gas prices tumbling 75% in the last ten years and created more than two million new jobs. China, Russia, Argentina and Mexico are among the countries with their own deep pockets of shale that may be tapped in the years ahead, and the UK looks like its government will also embrace shale drilling. Global gas production is set to rise 50% by 2035. But troubling consequences have been raised about the environmental consequences of some of the production methods including hydraulic fracturing or 'fracking'. Some worry about the impact on air and water quality, its contribution to climate change or that it leads to earth tremors and other disturbances. The Rolling Stones have even written a song 'Doom and Gloom' that disparages fracking. The full impact of the new drilling may take years to be fully understood. Meet the characters involved in this new business like Tom Ward who could handle natural-gas fields, but had more trouble with a Wall Street powerbroker and Harold Hamm who was determined to find the crude before others caught on. 404pp in large paperback with eight pages of photos.
Published price: £14.99
Bibliophile price: £5.00


Additional product information

ISBN 9780670923670
Browse these categories as well: Business & Computers, Modern History/Current Affairs, Nature/Countryside

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