The book's title - “Cold, Hungry and in the Dark: Exploding the Natural Gas Supply Myth” - pokes fun at the statement made by former Chesapeake Energy CEO Aubrey McClendon at the 2011 Shale Gas Insight conference in Philadelphia, PA.
“What a glorious vision of the future: It's cold, it's dark and we're all hungry,” McClendon said in response to the fact that there were activists outside of the city's convention center. “I have no interest in turning the clock back to the dark ages like our opponents do.”
What Powers unpacks in his book, though, is that McClendon and his fellow “shale promoters,” as he puts it in his book, aren't quite as “visionary” as they would lead us all to believe.
Indeed, the well production data that Powers picked through on a state-by-state basis demonstrates a “drilling treadmill.” That means each time an area is fracked, after the frackers find the “sweet spot,” that area yields diminishing returns on gas production on a monthly and annual basis.
Powers posits this could lead to a domestic gas crisis akin to the one faced in the 1970's.
We discuss these issues and far more in the interview below.