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The Next Financial Crisis Lurks Underground
Article

The Next Financial Crisis Lurks Underground

Fueled by debt and years of easy credit, America’s energy boom is on shaky footing.


автоматическое преобразование текста в аудио
автоматическое преобразование текста в аудио

Editorial Rating

9

Qualities

  • Eye Opening
  • Overview
  • Engaging

Recommendation

Pioneering firms deploying innovative technologies such as horizontal drilling and hydraulic fracturing (fracking) have led an American energy renaissance. Yet the boom has not occurred without a massive surge in capital raising and debt. Financial journalist Bethany McLean addresses the US energy transformation and previews what the next decade may hold. getAbstract recommends her thought-provoking examination of a potentially unstable US energy industry to investors, executives and energy consumers.

Take-Aways

  • The state of the American energy complex in 2018 stands in sharp contrast to its position in 2008. 
  • In 2008, as officials claimed global peak oil, US companies began installing horizontal drilling and hydraulic fracturing (fracking) rigs on domestic oil basins. 
  • The energy industry struck pay dirt with the liquidity and capital boom that low interest rates have enabled.

About the Author

Bethany McLean is the author of Saudi AmericaThe Truth About Fracking and How It’s Changing the World and the co-author of The Smartest Guys in the Room. 


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