"In a very real sense, then, the fracking revolution isn't just benefitting America directly by upending its energy outlook in a very positive way; it also may do a lot to ease energy concerns for much of the rest of the world, reducing the potential of belligerent parties to use energy as a political weapon." -- page 55
When Chris Faulkner talks about fracking, people listen. Chris is a regular contributor on energy issues on CNBC and is a featured speaker at more than 100 major events each year. The story that he has to tell should be good news of great joy to the vast majority of Americans. Unfortunately, the incredible story of the energy revolution that is taking place right here in the U.S.A. is being drowned out by the skeptics and the naysayers. In an attempt to set the record straight Chris Faulkner has written an impressive new book "The Fracking Truth -- America's Energy Revolution: The Inside, Untold Story". For those unfamiliar with the process Faulkner thoroughly explains how fracking actually works while debunking many of the myths propagated by environmentalists and their allies in government and the mainstream media. Before you decide where you stand on this controversial issue it is important that you hear the other side of the story.
Environmentalists will argue that the answer to our nation's energy woes lie in "renewables" such as wind and solar. But as Chris Faulkner points out even the most optimistic projections reveal that these sources will provide less than 10% of our America's energy needs for the foreseeable future. Fortunately, over the past five years or so hydraulic fracturing aka "fracking" has really taken off in the U.S. As the author points out "The 500 pound gorilla in any consideration of America's oil and gas picture, of course, is shale." The enormity of these largely undeveloped resources is driven home in a chart on page 52. I was surprised to discover that fracking is NOT something new or uncommon. In a timeline dubbed "History of Fracking and Horizontal Drilling" we learn that the technique was first introduced to the petroleum industry way back in the 1940's. However, it is only in recent years that fracking has become economically viable. Mr. Faulkner understands the risks and makes his readers aware of them. Still, he firmly believes that new technologies have made fracking safer than ever and that in the not too distant future America will actually become a net exporter of energy. This is fantastic news for the American economy!
So how does one explain that in a recent survey by the University of Texas at Austin only 38% of the American people support fracking? Chris Faulkner believes that at times the oil and gas industry has been its own worst enemy. He opines that they have done a very poor job of educating the public about everything they do—most especially about fracking. The author makes it abundantly clear at several junctures that he himself is extremely sensitive to environmental concerns. He firmly believes that "if you want to arrest catastrophic climate change you can't get there from here without an abundant supply of natural gas that comes courtesy of the fracking boom." Indeed, clean-burning natural gas is far superior to anthracite coal in the creation of the electricity that fuels the American economy. Meanwhile, the author explains in considerable detail the potentially game-changing geopolitical ramifications of fracking.
I would have to say that "The Fracking Truth -- America's Energy Revolution: The Inside, Untold Story" is the most important book I have read thus far in 2014. This book is beautifully illustrated and Chris Faulkner writes in language that everyone can understand. "The Fracking Truth" pulls no punches and in my view is a terrific way to get up to speed on this highly volatile and most important issue. If America plays its cards right we can all look forward to a more prosperous future. The choice is ours. Very highly recommended!
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