Few people can explain gas and oil drilling with as much authority as Louis W. Allstadt. As an executive vice president of Mobil oil, he ran the company's exploration and production operations in the western hemisphere before he retired in 2000.
In 31 years with the company he also was in charge of its marketing and refining in Japan, and managed its worldwide supply, trading and transportation operations. Just before retiring, he oversaw Mobil's side of its merger with Exxon, creating the world's largest corporation.
The first in a modest Long Island German-American family to graduate from college (the US Merchant Marine Academy), Allstadt got a master’s degree in business administration from Columbia University then was hired by Mobil. Before his retirement he wasn't aware of a new, sophisticated form of rock fracture, high-volume hydraulic fracturing, developed only in the late 1990s. "It just wasn't on our radar at that time," he said. "We were heavily focused on developing conventional oil and gas offshore in deep water."
Quaint, arty Cooperstown, home of the Baseball Hall of Fame, is perched on the shores of Lake Otsego, which supplies drinking water to the village and glimmering, placid expanses for kayakers and boaters. Allstadt launched his leisure years in this idyllic spot, intending to leave the industry behind. He founded an art gallery with his wife, Melinda Hardin, made pottery, kayaked, taught other people to kayak, and played tennis. But then friends started asking him questions about fracking - it had been proposed near the lake.
Developing countries were being urged by civil society groups to reject “a bad deal” at the...
A major storm pummeled northern California with rain and snow on Thursday and threatened to cause...
A set of powerful storms that could rank among the strongest in decades will slam British...
