Gary Sernovitz

The good, the bad, and the ugly of the fracking business, as related by a Manhattan-based member of an energy investment firm that does business in the domestic oil and gas business. He attempts to occupy the middle ground, recognizing the benefits the shale revolution has brought to exploration and production firms, landowners, and the US economy, as well as the downside of local disruption, disfigurement of the landscape, and risk of pollution of water supplies. With regard to global warming, he points out the beneficial carbon reduction stemming from substituting natural gas for coal in electric power generation (down-playing the role of methane), as well as the detrimental impact of shale oil, which keeps a lid on oil prices and so makes it less economical to drive EVs.… (mehr)