Bethany McLean: Saudi America

For years now we've been covering the false promise of the American shale oil "miracle".

Yes, it has extracted a lot more oil out of American soil that most thought possible. But at an economic loss. And at great environmental cost.

If the shale drilling companies can't make any profit, either when oil prices are high or low - why are we still pursuing shale deposits so aggressively?

To shed further light on this paradox, this week we welcome journalist Bethany McLean to the program. McLean is editor-at-large at Fortune Magazine and a contributing editor for Vanity Fair and Slate magazines. She is also author of the excellent book: Saudi America: The Truth About Fracking And How It's Changing The World.

McLean warns that the hype, the hucksterism, and the geological shortcomings of the deposits themselves, are setting up both investors and American society for tremendous disappointment.

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Christopher Martenson is a former American biochemical scientist. Currently he is a writer and trend forecaster interested in macro trends regarding the economy, energy composition and environment. He is the founder of PeakProsperity.com. As one of the early econobloggers who forecasted the housing market collapse and stock market correction years in advance, Chris rose to prominence with the launch of his seminal video seminar which later became a book called The Crash Course. Chris' latest book (co-authored with Adam Taggart) is called Prosper!: How to Prepare for the Future and Create a World Worth Inheriting.