“Sand Is The New Gold”?

Thanks to the growing use of fracking, or extracting oil and natural gas from shale formations, shares of U. S. companies which supply sand to energy producers are surging, and as Bloomberg reports, it does not look set to stop anytime soon. ‘Sand is the new gold,’ says Ivaylo Ivanov, founder of Ivanhoff Capital, as Ole Slorer, a New York-based analyst at Morgan Stanley, expects demand for fracking sand in 2016 will be 96 percent higher than last year’s level.

This post was published at Zero Hedge on 08/29/2014.