Why This Sand From Texas Is Suddenly Worth $80 a Ton

(Bloomberg) — Standing high on top of a windswept dune in the West Texas plains, Greg Edwards stares out into a vast ocean of sand. It stretches in every direction, interrupted only by an occasional strip of asphalt or clusters of silos that rise high into the sky.

Edwards runs a frack-sand mine. And those silos mark the presence of his rivals, who suddenly seem to be popping up everywhere.