Fracking And Natural Gas Should Be A Good Thing For The Economy

Over the past decade oil and gas producers have increasingly used hydraulic fracturing also known as fracking to extract oil and gas from the earth. Most people believe fracking is a new process but it has been around for over 100 years. Modern day fracking began in the 1990’s when George P Mitchell created a new technique by combining fracking with horizontal drilling. Since then, U.S. oil and gas production has skyrocketed. But the “new” perception of fracking leads people to incorrectly believe that fracking is temporary and that it somehow harms the environment. The truth is fracking is a reasonable energy solution if oversight and safeguards are used. In the last ten years fracking has improved conditions in the U.S. in three

Fracking is a complex political topic; nonetheless, fracking is showing a positive impact on the United States economy and leaving a harmful footprint behind the environment. In addition, consumers are experiencing a significant amount of savings due to the overwhelming supplies of oil; thus, the revolution in new technology is triggering an improper fracking system that contributes to airborne pollution and water contamination. Higher authorities should implement the concepts of sustainability and ethical views of large corporations and businesses to protect the consumer’s safety.

Danny Vinik, a staff at new republic wrote “Fracking Is Good For American Consumers” he argues that fracking is good for the economy because it brought down the price of gas and saved a lot of money. Vinik cleverly argues his point that fracking saves a lot of money for the united states, he weakens his argument by using a lot of numbers and not calculating the damages caused by fracking. The outcome is an article that has all numbers but the numbers don 't outweigh the amount of damage caused by fracking.

Fracking has actually changed out future as we know it, and has made it possible for many things. Fracking will make the world run on natural fossil fuels for much longer, which is also better for the environment and us. In 2015, the U.S. reached its all time high in oil production in 14 years and is only expected to continually rise. Oil production in the U.S. is one of the main sources of jobs for people living in the U.S. (Nunez, 2013). Fracking is a good way to employ U.S. citizens and is also a good way to get natural ways of oil production. As we all

One of the strongest arguments in favour of fracking is the reduction in CO2 that would occur with increased fracking. As of 2013, coal provided approximately 40% of the world’s electricity needs and provides 29% of the total world energy supply with oil being the largest at 31%. Coal-fired power plants are responsible for over 83% of the CO2 pollution since 1990, and have the highest ratio of CO2 output per unit of electricity out of all the fossil fuels. These emissions cause effects worldwide; acid rain, air pollution, toxic waste, to name a few. It is estimated that by replacing coal with gas from fracking, CO2 emissions would be reduced by more than 50%. This massive reduction in carbon emissions would have a global impact, resulting in unprecedented reductions in the effects of climate change. Allowing fracking is a fundamental advance in the efforts to reduce global warming; with this in mind fracking should be allowed and in this case it would benefit everyone when considering the reduction in CO2 emissions. However this poses an issue, if fracking was widely used then CO2 emissions may decrease but there would then be a halt in research and implementation of renewable energy. In some areas where fracking has become more prominent the price for the fuel has fallen; making it a cheaper alternative to expensive renewable energy. Fatih Birol, chief economist for the IEA, aired this concern, ‘Renewable energy may being the victim of cheap gas prices if governments do not

“Fracking ensures that the age of oil-and it 's princely hydrocarbon cousin, the natural gas molecule-will not end because we have run out of fossil fuels. But it may end because burning these wonderful fuels puts the planet farther down a path we don 't want to head down”. Fracking, or hydraulic fracturing, is a petroleum mining method to reach remote gas under water that is located in the crust of the earth. Fracking uses a blend of water, sand, and chemicals. Hydraulic Fracturing, “has contributed to a resurgence of oil production in the USA and a dramatic increase in natural gas production” (Hassett). It is speculated to grow and eventually become fifty percent of the natural gas used in our lives today. It is understood that transferring to the use of these natural gasses would be better for the dwindling supply of oil but people are looking over the repercussions of a more common and more frequent fracking. Much of the effects are unknown due to the short past of major fracking in the United States. From the minor, in comparison to the future plans, fracking in places such as Pennsylvania, North Dakota, Texas, Kansas Mississippi, and many others have dozens of incidents. Incidents that range from poisoned drinking water, industrial disasters, explosions, polluted air, and mysterious animal deaths. Fracking is something that if grown can cause disasters of monumental scales. The temporary benefits do not outweigh the costs that people and the

fluid 8,000 feet into the ground to extract oil and natural gasses from shale plays. Although fracking has been around for nearly 60 years, the controversy surrounding it didn’t begin until approximately 2008, when oil and natural gas in the United States hit an all-time low. As a result, we depended heavily upon other countries like Saudi Arabia for our oil. The situation was less than ideal and the U.S. was seeking new ways to gain independence. On December 19, 2007 the Energy Independence and Security Act was signed into legislation thus, marking the beginning of the search for natural gas and oil in the United States otherwise known as the “Fracking

The United States has one of the largest deposits of shale oil, so drilling for it may seem like a logical decision “…over 750 trillion cubic feet of …shale gas and 24 billion barrels of … shale oil resources…exist in…shale plays… developing these resources creates jobs and fuels our economy… the key…is through the process of hydraulic fracturing…” (Energy Tomorrow 2013). The number of jobs created by the institution of hydraulic fracturing is widely touted by proponents of hydraulic fracturing, but the number of jobs directly created may actually be smaller than claimed. In Pennsylvania, many jobs were created from hydraulic fracturing, though most are not as a direct result from the institution of hydraulic fracturing. In the third quarter of last year, 216,946 jobs were created in Pennsylvania as a result of hydraulic fracturing…but only 30,000 of those jobs are actually from fields that are closely related to hydraulic fracturing. “It (number of jobs created) covers industries whose connection to oil and gas development is tenuous …ranging from freight trucking to highway, street, and bridge construction… agency officials …admit that the figure—when used to estimate jobs supported by shale—amounts to little more than a guess” (“Foran”). Even though hydraulic fracturing is continuing to create jobs, the number is starting to decline as a result of the success of hydraulic

The fracking industry in its entirety, although surrounded by a shroud of controversy, is an economic stimulator that many do not acknowledge. The potential replacement of coal for efficient and clean energy would not be possible if it weren’t for the utilization of hydraulic fracturing, also known as fracking, and horizontal drilling. To consider fracking as only a danger to the environment would be an overstatement while saying fracking only provides natural gas and nothing else is an understatement. It’s important to consider all of the potential benefits that fracking gives to the economy and how its minor environmental destruction could lead to an economic reconstruction. Although fracking has a negative connotation with most people,

There are many pros and cons to hydraulic fracturing which has made it a very controversial topic in the United States Government the past few years. What is now commonly known as “fracking” is the use of chemically infused water that is pressurized and used along with drilling into the earth’s bedrock to create an earthquake that releases natural gases from pockets thousands of yards below the Earth’s surface. Fracking causes these earthquakes when releasing the gas, and is concerned to be the cause of water pollution due to the chemicals used all over the U.S. There have been many congressional hearings regarding the 34 states affected by fracking including one held on July 24th, 2013. Lessons Learned: EPA’s Investigations of Hydraulic Fracturing

In the past few decades America’s energy consumption has risen significantly, the majority of our energy comes from fossil fuels like natural gas, and coal, however recently there has been a lot of publicity around a relatively new method of obtaining natural gas called Hydraulic fracturing, or fracking. Fracking has grown since the 1940s in America, natural gas prices are continuing to rise, as a result of its depleting number of natural resources (Heinberg). Therefore more complex, and expensive methods like fracking have become more popular, and cost-effective (Sanders). Fracking has already been used in the USA more than one million times, in fact more than 60% of gas wells in the United States are used for fracking (white). Fracking

left undeveloped and wasted, it was once considered “unusable” and “worthless”, compared to oil. In order to try to break our country’s dependence on foreign oil supplies, we have begun to dip into our own natural gas supply. Natural gas is found underground, and is produced when trapped gas is released above ground. Hydraulic fracturing or fracking is a process that extracts natural gas from the ground. As harmless as the billion dollar producing oil companies would want us to believe, environmental groups, scientists, and average citizens have raised concerns about the negative impact of hydraulic fracking on the environment and

The Shale gas revolution has demonstrated a quantum leap from almost nothing in 2000 to over 30 billion cubic metres in 2011. This caused a crash of natural gas prices in the United States, significantly changing the country’s natural gas future outlook (Mangeri, 2012). The US oil and gas fracking revolution is a new paradigm which has made the country a game changer in the oil and gas scheme of things, and has immense implications for economics, energy and geopolitics. It is projected that in a few years, the US will surpass Saudi Arabia as the number one oil producer worldwide, having overtaken Russia as the number one natural gas producer in 2012 (Birol, 2013). This would exert a negative pressure on global oil prices,

Due to innovations in technologies and techniques involved with shale gas extraction, shale gas production in the United States, as well its natural gas production as a whole, as increased tremendously over the past several decades. As the abundance of domestic energy continues to grow, American consumers have observed declines in gas prices across the nation. However, cheap gas comes with a price: the negative impacts that cheap oil prices and shale gas extraction have on the U.S.’s environment, economics, and political relations raises questions as to whether America’s shale gas revolution is entirely beneficial. Although shale gas offers the potential for abundant and cheap energy and reduced reliance on foreign energy, the harmful impacts on human health and the environment caused by shale gas extraction as well as the negative effects of cheap oil prices on foreign and national economies and the geopolitical imbalances caused by the shift in energy dominance outweigh the benefits of shale oil.

With the level of industrialisation the world faces today there is an ever increasing demand for oil, coal and other sources of energy to fuel a vast array of industrialist operations. It is evident however according to