The Fastest-Growing U.S. City Is Scrambling to Survive the Shale Boom

  • Twenty drillers kick in $180 million to help Permian towns
  • Road repairs, $50 million water tower targeted in Midland
Drilling Down Into 'FRAK': An Unconventional ETF
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In a state known for its oil-based booms and busts, Jerry Morales is convinced Midland, Texas, the unofficial capital of the Permian Shale Basin, has a chance to break from the pattern.

In the Permian, "we don’t say boom anymore," according to Morales, who serves as mayor of the nation’s fastest growing city. "We’re very sustainable. The boom-and-bust era is over."