The Wiki says:
Drifting refers to a driving technique and to a motor sport where the driver intentionally oversteers, causing loss of traction in the rear wheels through turns, while preserving vehicle control and a high exit speed. A car is said to be drifting when the rear slip angle is greater than the front slip angle prior to the corner apex, and the front wheels are pointing in the opposite direction to the turn (e.g. car is turning left, wheels are pointed right or vice versa), and the driver is controlling these factors.
I ran across the video – again. I marveled at it. While I know what I do professiobally, watching others 'do the voodoo that they do so well' is like going to any great gallery and seeing the finest art. I hope you enjoy this, or at least the amazing impractical ability it takes to accomplish this with an automobile.