The oil and gas industry promises “a few days of fracking” for “decades of … production.” But is it true?

Believe it or not, some people don’t buy the fracking boom story. Some predict bust. Others, more of a petering out. What gives? Let’s begin with a story about a lunch.

In the spring of 2008, I was anticipating a lunch meeting with Matthew Simmons. In the oil and gas industry Simmons was considered something of a legend or a pariah, depending on one’s point of view. Either way, he was an iconoclast.

Having served as an energy advisor to President George W. Bush, Simmons had become increasingly concerned about Saudi Arabia’s ability to keep its oil spigot flowing indefinitely. In his book