The technology of fracking in shale rock 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 and crush Russia’s chokehold over Europe.
Or will it?
Renowned business journalist Bethany McLean was one of the first to question Enron and also co-wrote the acclaimed book The Smartest Guys in the Room. Her latest book digs deep into the cycles of boom and bust that have plagued the American oil industry for the past decade, from the financial wizardry and mysterious death of fracking pioneer Aubrey McClendon, to the investors who are questioning the very economics of shale itself.
McLean finds that fracking is a business built on attracting ever-more gigantic amounts of capital investment, while promises of huge returns have yet to bear out. Saudi America tells a remarkable story that will persuade you to think about the power of oil in a new way.
McLean is the co-author of the bestseller The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron with Peter Elkind. Her second book, which she co-authored with Joe Nocera, is All the Devils Are Here: The Hidden History of the Financial Crisis. She is also the author of Shaky Ground: The Strange Saga of the U.S. Mortgage Giants. She is a contributing editor at Vanity Fair.
Bethany McLean’s newest book Saudi America: The Truth About Fracking and How It’s Changing the World will be available for signing at the event. [Organizer's description]