How The Shale Gas Boom Changed The Lives Of Farmers In India

September 1, 2014 in Daily Bulletin

John Samuel Raja D. noted that the surge in America’s production of fracked gas bought great riches to farmers 21,000 km away:

  • Guar gum is a key ingredient used in the process of fracking due to its binding, thickening and emulsifying qualities.
  • It comes from a crop call guar. India is the world’s largest producer of it.
  • As the shale gas boom progressed India’s exports of guar-gum shot up from $20.2 million to $3.5 billion in less than 10 years.
  • The price of guar increased tenfold to $500 per 100kg.
  • Farmers took the bounty to pay off their debts, build homes, and arrange lavish weddings.
  • Since then frackers have found synthetic alternatives and prices have dropped to around $100 per 100kg.

Read about why the prices dropped, the future outlook for the farmers, and more over here.

Source: Quartz