user: Shale Boom Still Has Plenty Of Room To Run
This story appears in the Dec. 5 Investment Guide issue of Forbes Magazine. Click here for the full Investment Guide 2012 special report.

A possible shale-gas winner. Image via Wikipedia

A year ago the shale gas boom looked like a surefire way to make money. “Pump Up Your Portfolio With These Fracking Stocks,” blared a website from September 2010, referring to the high-pressure hydraulic fracturing that unlocks oil and gas from underground shale deposits.

It hasn’t turned out that way. Oil service stocks are down 20% from their spring highs as investors fret that shale gas will prove too much of a good thing. Gas prices are already falling, and some fear a full-blown glut as drillers keep punching holes in the ground to avoid losing leases that expire worthless if drillers don’t produce oil and gas from them.

That’s the bad news. The good news is that a huge, 100-year source of cheap gas will make plenty of winners as well.

Chemical and fertilizer manufacturers like Dow and Potash, for example, use gas as a fuel and a feedstock. And pipeline companies—when they’re run right—make money by moving molecules from place to place. As gas prices fall electric utilities will start burning more of it and the commodity will find its way into new uses like truck fleets. “The guys who win when shale gas grows are the ser­vice guys, the pipeline and processor guys, and the end user of this product,” says David Pursell, managing director at Tudor, Pickering, Holt & Co., an energy investment bank in Houston.

Kinder Morgan’s $21 billion takeover of El Paso Corp.—at a 45% premium to its 52-week average price—is clear evidence of pipeline capacity’s rising value. Other pipeline takeover targets include Williams Cos. and Holly Energy Partners.

Brad Handler of Credit Suisse in New York also sees a “very bullish outlook for services businesses” because of the tendency of shale wells to decline 80% or more after an initial rush of gas. They keep producing for a long time after that, but drillers need to put a lot of holes in the rock to maintain supply. “It’s a treadmill,” he says.

To get at the oil and gas trapped in shale, drillers use powerful hydraulic pumps to force water and chemicals through holes punched in the concrete-and-steel well casing. The industry measures capacity in total horsepower.

The North American fleet of pressure-pumping equipment has swelled from 2 million hp in 2003 to about 14 million hp today, according to Spears & Associates, a Tulsa, Okla. consulting firm. Yet securities research firm Macquarie Capital estimates there is a shortage of pressure-pumping services.

Overseas the shale play is just beginning. Geologists have found huge deposits in the U.K. and Poland, yet the entire international pressure-pumping fleet outside of Russia is just 2 million hp, Pursell says. Shale gas “is everywhere, and if you’re going to see significant growth in production, you’re going to have to see a lot of growth in horsepower,” he says.
Please write a summary below.
Shale-gas stocks boomed, then busted, but the long-term winners will include not just drillers but chemical producers and pipelines.
Disneyland: Mickey's Selling the Farm ... Rare Collectibles Up for Auction
If your life is unfulfilled because you never got to ride Disneyland's Space Mountain in your underwear ... redemption is near, because a ton of park treasures are hitting the auction block.

Van Eaton Galleries in Sherman Oaks, CA has some incredible Disneyland swag from over the years ... not just old store merchandise, but actual installments and attractions from the park!

The owner of the gallery gave us a rundown of the big ticket items:

-- Space Mountain ride vehicle, which flashes lights and plays the actual music from the ride, expected to go for $60,000

-- One of the original benches from Main Street, expected to fetch $10,000

-- Jack Skellington head from the Haunted Mansion holiday version, expected to sell for $40,000

The pièce de résistance though, may be the actual PeopleMover ride vehicle ... complete with power roof and soundtrack from the original ride, if you're willing to bid as high as $300,000.

The auction kicks off November 21 ... and if you get the Space Mountain rocket, put down a towel.
Please write a summary below.
If your life is unfulfilled because you never got to ride Disneyland's Space Mountain in your underwear ... redemption is near, because a ton of park…
Video: Fruit Cup cocktail by Heston Blumenthal
Sparkling wine, beer and cider all have their place on a summer drinks menu, but when the sun is out, nothing compares to a long fruity cocktail. Like strawberries at Wimbledon, Heston’s Fruit Cup cocktail recipe chimes with the season.

Its star ingredient is Heston from Waitrose Fruit Cup, which blends Heston from Waitrose Earl Grey & Lemon Gin with a mixture of elderflower, blackcurrant and raspberry liqueurs, and is infused with eight botanicals. Of the delicious tipple, Heston says: “My seasonal drink is summer in a cup. I wanted to create a fresh, light taste that will refresh everyone on a summer’s day.”

Served in collins glasses, Heston’s Fruit Cup cocktail exudes a joyful raspberry glow, suffused with the aromas of fresh ginger, zesty lime and rosemary, as well as a fizzy hit of berry fruits and spice. Whether you’re staging a garden party, having friends over for an alfresco lunch, firing up the barbecue – or you just fancy a delicious, fruity treat, a jug of this thirst-quenching concoction makes for a guaranteed show-stopper and the perfect way to relax and enjoy the summer. Scale up the recipe to suit the number of guests and pour from a pretty jug.

Over the coming weeks, the Telegraph and Waitrose are featuring exciting and original recipes and videos from Michelin-starred chef Heston Blumenthal. Different themes and new ideas every week will help make your picnics, barbecues and home entertaining extra special. Heston’s recipes — using Waitrose ingredients — will show you how to make everything you need for delicious eating all summer long, from from alfresco dining and interesting menu suggestions to sumptuous desserts and perfect baking.
Please write a summary below.


assistant: Whether you're hosting a garden party or having friends over for lunch, Heston's here to show you how to create his signature summer cocktail