we're doing what's called horizontal fracking. that basically means we're drilling down deep in the earth's crust and turning 90° to basically cover a much larger area through the horizontal fracking process. and that is -- and we've been doing that mainly to take advantage of deposits of natural gas and oil in shale rock formations. and that's been a very recent development in the u.s., and some suspect like i mention that that is what may be contributing to the increasing seismicity. >> increase of oil and natural gas but possibly even more with wells. that is how they end up disposing with the disgusting liquid resulting from the process. they put it back in the ground. >> there's very little to suggest that the fracking extraction process whereby oil and natural gas is extracted from these formations, there's lil to suggest that that's what's causing the earthquakes. rather the thinking is that the disposal of the water used in the fracking activity, that that may be what's at hand here. the reason being, fracking especially t

the more horizontal fracking and drilling we have the more problems the more waste water the more injectedo the ground we're doing and it's opening fault lines that aren't open at the moment. >> in a prepared statement xto the company that owns this disposal well told "techknow" based on an analysis of the data to date, xl does not believe its well caused any of the seismic events. it's a sensitive issue. when the mayor took us to the area, a driver began taking pictures of us on a cell phone. residents of reno and azel are taking action. >> the quake started recently and it woke me up. i thought a 747 landed on my roof. >> at a round of hearings at the texas state capital, citizens voiced their complaints, the railroad is a state agency that regulates the gas and oil industry including drilling and disposal wells located throughout the state. >> how would you like it where you would have your grand kids play over in your yard if they fall in a sinkhole, they'll break their leg. >> in response to pressure the rrc has imposed a regulation that would require the oil and gas companies to rese

it does hurt the companies that earn that area and have moved in with horizontal fracking. the ten-year which has been seeing a little bit of movement on the yield higher, but not today down 2.27%. we'll take a quick look at the dollar. it looks like a good place to visit parts of europe at this point. 1.25 now. up date, 40 cents more. >> it was $1.24 last week. >> i still thing a dollar is fair. >> i would like below parody, actually. yeah. >> if it was -- >> it would be so much cheaper. they would let me travel more to europe. >> and in a real world, that's based on what we have going for us in terms of economic ability, it should be. >>> then finally -- >> i don't live in the real world, so i don't know what you folks are talking about. >> what is the price in hollywood? >> if you are in a guilded cage on the upper west side, right? >> the upper west. >> lower west, so you're basically wherever at some point most weekends, aren't you? you have fake hipster -- >> no, that would be if i was going -- i don't think you do the hipster in the city anymore. >> only in brooklyn?

and it is not just fracking, but there is also horizontal drilling.ill not make nearly as much, and a lot of them have borrowed a lot of money. you do not want to be leveraged as the price of the commodity comes down. >> so is this opec's way of putting them out of business? >> they have a lot of reasons for getting prices lower. they have iranian and russian reasons. frackers are getting them service. they want to gain back market share. >> ascribed these people that you talk about in your book. wildcatersut these and where they are now? >> aubrey mcclendon, tom ward, people who were dismissed. they believed in shale and they wanted to move to energy independence, and make a lot of money in doing so. exxon, bp, all of those companies did not believe in this country and the possibilities. it took some stubborn, idiosyncratic entrepreneurs to develop the technology. it is just as much a story about technology innovation as anything else. it is all about horizontal drilling and spot fracking. >> why did exxon, chevron, dismiss it so quickly? andhey had

global particular,sia, natural gas prices are much higher, we will see a much broader boom of fracking, the horizontalrilling technique will stop because the price of natural gas in america will rise. republicans are intent on .ushing this priority cory gardner one of the republican senate candidates who won last night in colorado, he has made this one of his top initiatives. in republican leaders have signaled this is at the top of the list along with the keystone xl. >> when it comes to democrats and fracking, right up to president obama, they certainly have not distanced themselves from it. as someone tweeted last night, when organizer wrote -- click the obama administration has also been close to the natural gas lobby. i've done story showing the main lobbying group for the fracking industry, america's natural gas lines, provided dark money under the democrats as well. former maryland governor martin o'malley were current soon to be former governor martin o'malley, received funds for his own dark money group from the natural gas lobby. democrats that have raise money for natural gas interests actu

left stop every opportunity for fracking, you know delay ke stone and et cetera -- keystone and et cetera. >> hats off to entrepreneurs who figured out how to do horizontal drilling to open what were doe dormant wells. neil: i hate to bursts your bubble it could do more with a pronounceed slowdown. it could have more to do with the economy jjst stumbleing away. maria: i think this is part of that but people understand there is enough oil in the world, because united states will be an emergency exporter. >> again. neil: i want to look at new hampshire. this is race, scott brown is trying to topple, and wha shahe. note looking good. he knew it was an out field battle. he would like to be first to serve senate for two different states, i think in 1874, you were there? >> 1874? neil: it is not looking that way, just to give you where we are, two net republican gains, they need 6, some of these states they hope to get, they night not get, some states they %-are getting, right nowt they republicans are inching closer to that. thattmmght not call for a run off election but till early we have more to go and much more red bull to drink, stick around, much more af