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The Frackers: The Outrageous Inside Story of the New Billionaire Wildcatters, by Gregory Zuckerman
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Review
"Zuckerman’s fast-paced, densely interesting The Frackers is the first book to tell the stories of the obstinate, ravenous, methodical, sometimes rascally oil executives of the recent boom. By focusing on people instead of trends, it gets to the heart of why the United States is once again the largest supplier of oil and gas in the world."—The New Republic“Told with care and precision and a deep understanding of finance and corporate politics as well as oil and geology.”— Bryan Burrough, The New York Times“Fans of the lively, character-driven nonfiction of writers like Kurt Eichenwald and Ben Mezrich should welcome this book with open arms . . . A lively, exciting, and definitely thought-provoking book”—Booklist“A fascinating study of American entrepreneurial culture and the modern robber barons who succeeded in creating an energy revolution.”—Kirkus“Lovers of business and capitalism will appreciate The Frackers, … Zuckerman has done valuable and timely reporting on the men and independent companies that created the shale boom.”—Associated Press
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About the Author
Gregory Zuckerman is a special writer at The Wall Street Journal and author of the New York Times bestseller The Greatest Trade Ever. He is a two-time winner of the Gerald Loeb Award and a winner of the New York Press Club Journalism Award. He lives in New Jersey with his wife and two sons.
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Product details
Paperback: 432 pages
Publisher: Portfolio; Reprint edition (October 28, 2014)
Language: English
ISBN-10: 1591847095
ISBN-13: 978-1591847090
Product Dimensions:
5.5 x 1.1 x 8.4 inches
Shipping Weight: 14.4 ounces (View shipping rates and policies)
Average Customer Review:
4.5 out of 5 stars
365 customer reviews
Amazon Best Sellers Rank:
#57,442 in Books (See Top 100 in Books)
We all need to learn the history and struggle of the modern American wildcatters who have brought prosperity to some parts of the US and possible environmental problems to other parts. One way or the other, this country benefits from exploiting our own fossil resources rather than importing them. As a retired paleontologist who has spent many hours reconstructing past climate, I am deeply concerned about climate change as it is impacting us now and know the problems will increase in the future. It is vital to transition away from fossil fuel but that cannot occur over night. Steady progress toward that end is critical but in the meantime, we definitely need to rely on our own resources rather than those of other countries. This book puts the recent history of supplying our energy needs in perspective. It also teaches the reader how volatile the global and domestic energy market is. The tipping point between wealth and bankruptcy is always staring the independent wildcatters in the face. These people have changed our energy story from import to abundance. Now it will take our resolve to curtail excess and to shepherd these resources for important use far into the future. Great book!
Fracking and the energy extraction industry as a whole are like Wall Street: they attract people who feed on high, sustained doses of adrenaline, risk, and power. This book introduces the reader to a large number of fascinating gamblers with strong egos and iron nerves. The book is fast moving and fascinating, because the topic itself is fast moving and fascinating. In the end, the message isn't simple, but that is probably a sign of accuracy and realism.
For looking looking for a history of horizontal fracturing - i.e. the development of the combination of horizontal drilling and hydraulic fracturing that has allowed the oil & gas industry to tap into resources once thought unrecoverable and push U.S. production to historic highs, even after most industry watchers thought the domestic industry was well past its peak - Greg Zuckerman offers a detailed and comprehensive account. He chronicles the rags to riches stories of several key players - George Mitchell of Mitchell Energy, Aubrey McClendon, and Tom Ward of Chesapeake, Harold Hamm of Continental Resources, Mark Papa of EOG Resources and Charif Souki of Cheniere Energy (who is not really a fracker, but rather an LNG distributor and marketer who is also a colorful character). The stories describe the difficulties (including near bankruptcies) that many of these players endured. It makes for interesting reading. Among my few complaints: Zuckerman has a penchant for drawing out his narrative, especially in anticipation of major events. In my mind, the book is probably 50-100 pages too long. However, Zuckerman is an excellent writer; so much so that I was able to read the book in one sitting, which was a first for me. Curiously, the book is divided into two parts: the Breakthrough and the Race; but the Race continues even after the industry collapses. Besides telling the stories of these independent wildcatters, Zuckerman offers an analysis of the environmental questions surrounding fracking at the end of the book. What's missing is whether this "race" to develop this major natural resource represents good energy policy. (To date, we are the only nation that has gone all out to develop shale supplies and while some estimates put our remaining supply at about 100 years, it is still a finite resource.) The latest version of The Frackers offers an Afterword; but the story is still evolving and would benefit from an update, especially after the death of Aubrey McClendon. For those interested in learning about this important chapter in the history of the U.S. oil and gas industry, The Frackers is well worth a read.
Not knowing much about fracking, but wanting to know what all the controversy was about I chose this book to get me up to speed. It was a great book to start with. It provided history about fracking and identified the key players who made it happen. It also explained the interaction between the companies and state and federal governments; current through the end of 2013. It also touched on the state of fracking in other countries outside the U.S. I think this book is still relevant and recommend it as a good starting point for someone wanting to learn about fracking. It will provide the reader with the necessary framework to read and understand more detailed information about fracking.
As the title says, this book is primarily a history of five or six prominent players in the shale fracking energy revolution. Some were lifelong wildcatters, others were simply investors interested in the oil and gas industry and the book focuses primarily on them and others to give a history of fracking in the US. The writing is excellent, the story flows smoothly, and the characters are quite colorful. From an Egyptian-born former restaurant owner to a high school educated wildcatter turned billionaire to engineers, geologists and investors, the people described are fascinating as you follow their successes and failures in trying to drill for oil.The author doesn’t focus too much on the technical details of the techniques and technology advances that made cost effective shale drilling possible, but he does give enough of an overview to give the reader an idea of what it took to make the energy revolution possible. The main action in the book starts in the early 1990s and ends in 2014. This is a great read and recommended for anyone interested in shale energy or just enjoys interesting character-driven nonfiction.
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