I am currently reading ‘The Frackers: The Outrageous Inside Story of the New Billionaire Wildcatters’ by Gregory Zuckerman. A few years back he wrote one of my favorite books, about John Paulson’s rise to Hedge Fund stardom titled ‘The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial History’. If you have not read his Paulson book, trust me go buy it – it is a must read for anyone working in finance.
As I am only one-hundred pages deep into The Frackers, I cannot give a full review, but so far it is a great book. Below is an excerpt from Zuckerman’s site which gives an overview of the book.
In five years, the United States has seen a historic burst of oil and natural gas production, easing our insatiable hunger for energy. A new drilling process called fracking has made us the world’s fastest growing energy power, on track to pass Saudi Arabia by 2020. But despite headlines and controversy, no previous book has shown how the revolution really happened.
The Frackers tells the dramatic tale of how a group of ambitious and headstrong wildcatters ignored the ridicule of experts and derision of colleagues to pursue massive, long-overlooked deposits. Against all odds, they changed the world—and made astonishing fortunes in the process.
Zuckerman’s exclusive access enabled him to get close to men like George Mitchell, who developed a new way to drill for gas in shale rock; Harold Hamm, who discovered so much oil he’s now worth more than the estate of Steve Jobs; and Aubrey McClendon, who lost more than $2 billion on a misguided gambit. Zuckerman shows how the frackers are now using their wealth to shake up Hollywood, education, politics, sports, and other fields, much like the Rockefellers and Gettys before them.
He also explores the debate over the environmental risks of fracking, and whether those risks are worth it for the United States to achieve energy independence and for the rest of the world to follow.