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Saudi America

The Truth About Fracking and How It's Changing the World

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Saudi America

By: Bethany McLean
Narrated by: Sarah Mollo-Christensen
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About this listen

Best-selling 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 US 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.

©2018 Bethany McLean (P)2018 Random House Audio
Politics & Government United States Wall Street Business
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McClendon’s Gas Boom

A great insight into the fracking of gas, the importance of low cost natural gas for the US and the pricing strategies used globally by Saudi and Russia. A key takeaway being the focus on Aubrey McClendon and his risky use of junk bonds, partnerships, and future production deals, creating a high leverage to cause a boom in the fracking industry.

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