08 Jun '12, 12pm

Halliburton gets tripped up by Indian bean farmers

Halliburton gets tripped up by Indian bean farmers

Economics 101: supply and demand. The more supply in the market, the price of a product drops. The more demand, prices rise. Demand leads to sales, which reduces supply and forces prices higher and higher until either 1) supply runs out or 2) prices drop demand. This isn’t a theoretical or arcane concept. Here’s how that process played out just this week. Last month, Reuters told the story of an unexpected economic windfall for farmers in India’s northern deserts. The seeds from guar beans , which look like bean/pea hybrids and for which the region is the primary source, can be processed to create a powdery gum. This gum is used in a variety of products: ice cream, sauces — and the liquid employed in hydraulic fracturing. Guar gum is an emulsifier, a thickener. In the fracking process, it’s generally combined with kerosene to create the fluid forced deep into shale deposit...

Full article: http://grist.org/news/halliburton-gets-tripped-up-by-indi...

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