October 22, 2012
After the Boom in Natural Gas

An extraordinary investigative piece in the NYTimes this weekend (see link above) detailed the recently burst bubble of the natural gas market in the U.S., including who it damaged irreparably (ordinary people, the environment) and who benefited big time (members of the top .1%). The article includes revelatory detail on how two billionnaire fraternity brothers, one an investment banker and the other an energy corporation CEO, fueled the country’s natural gas bubble using ownership of land on gas-rich shales, global connections to elite investors, creative financial instruments, and a significant amount of bluster and bullshit.

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