Hydraulic Fracturing: The Economic Benefits Of Fracking

In today's global economy, energy is one of the most crucial and sought after commodities. Who supplies it and how much they supply determines how much influence they have over other countries as well as the global economy. This is why hydraulic fracturing is currently such an important and controversial topic in the United States. Hydraulic fracturing, more commonly known as "fracking" or hydrofracturing, is the process of using pressurized liquids to fracture rocks and release hydrocarbons such as shale gas, which burns more efficiently than coal. This booming process of energy production provides a much needed economic boost, creating jobs and providing gas energy for Americans. The efficiently burning shale gas reduces carbon

In recent years, the subject of hydraulic fracturing, better known as fracking has been a constant subject of interest in the news media. The pros and cons of fracking are passionately debated. However, the public should become educated on the subject of fracking prior to choosing a side of the argument. In the scholarly article, “Super Fracking,” published in 2014, by Donald L. Trucotte, Eldridge M. Moores, and John B. Rundle, a detailed description of fracking is provided, followed by their analysis of current issues surrounding the controversy. According to Trucotte, Moores, and Rundle, fracking saves the consumer money. The wellhead cost to produce natural gas in January of 2000 was two dollars and sixty cents per one thousand cubic feet. At an alarming rate, the cost at the wellhead to produce natural gas had risen to eight dollars per one thousand cubic feet by January of 2006. Comfortingly, the wellhead cost dropped to two dollars and eighty-nine cents by the end of 2012. Impressively, gas production increase and price decrease over the time period are a result of fracking. In their article, Trucotte, Moores, and Rundle describe in great detail that hydraulic fracturing, most commonly referred to as fracking is the process of drilling down into the earth to fracture the layers of rock so that a high-pressure water mixture is directed at the rock to release the oil or natural gas inside. This method of fracking has been used commercially for the last fifty years.

“Fracking is the process of obtaining Natural Gas from below Earth’s surface by drilling 1000’s of feet into the earth before a high-pressure water mixture is directed at the rock to release the gas inside.” Water, sand and chemicals are injected into the rock at high pressure which allows the gas to flow out to the head of the well.” (Jackson). Hydraulic Fracturing got its name due to the fact of how the rock is fractured apart by the high pressure mixture of a number of chemicals, sand, and water. Drilling companies first began Fracking in the early 1940’s, and starting in the 1990’s companies began “safer drilling” due to the amount of concerns that had arisen because early drillers had to detonate small explosions that eventually ended up killing many people. Fracking has been used for nearly 60 years and the number of concerns about it are rising every day. Due to the new technological advancements in drilling Fracking has changed greatly over the years. Before, the drilling would go on for weeks on end in order to extract only a small amount of natural gas. Now, due to the invention of higher powered drills, the drills get double the amount then they used to be able to get in more then half the time. Over 95,000 square miles of shale deposits have been found around the Appalachian Basin but the only way to reach these deposits of shale is through fracking. “Fracking is a technique designed to recover gas and oil from shale rock by drilling

Hydraulic fracturing also called fracking has been around for many years despite the recent events of controversy to continue fracturing or not. With the earth’s resources depleting rapidly every year and no sufficient replacement for energy humanity needs fracking. The process of fracking has been around for more than six decades. Fracking has been around since the 1940s and was created to increase the removal flow of oil and natural gas. In the words of chemical engineer Robert Rapier “Fracking involves pumping water, chemicals, and a proppant down an oil or gas well under high pressure to break open channels in the rock holding the oil or gas (Rapier).” A proppant can be different materials,

Hydraulic fracturing is a controversial topic that has a clear stigma associated to its name, creating issues to its feasibility. Regardless of the conventional uncertainties, prejudices, laws, regulation and environmental consequences that makes unconventional methods a bitter topic, the fate of hydraulic fracking is rather ardours due to the nature of the province and history behind it. The provinces of Nova Scotia, New Brunswick and Prince Edward Island, carry an exclusive component that escalates the complications of hydraulic fracturing, and that is the fact that it is the traditional land and territory of the aboriginal people of Canada – The Mi’kmaq (pg.282). Nova Scotia alone, is currently the home of over 24,000 people and 13 communities of the Mi’kmaq and Aboriginal people (pg. 283), all of whom are protected by historical rights and treaties, whereupon the infringement of their rights could lead to serious consequences by the federal government of Canada (pg. 287) and the United Nations (pg. 285).

The job of fracking constitutes of gas being released to supply both Australia and overseas countries. Administrators and workers take this process seriously as every cubic foot of gas is measured and supplied. Although potential health problems have been recognized, the companies have been focusing on the collection grid and the and the shortage of regional community employees as only 2% of the workforce is applied for the job. Another economical factor is that Fracking is destroying jobs in other industries. These include manufacturing, tourism and agriculture as well as gas related fields. This caused a major problem in for farmers as they live on rent as well as the decrease of jobs is becoming difficult to maintain that wage. Furthermore, as the natural is supplied throughout the world, citizens must pay double or triple the prices in the upcoming years due to this fracking site.

Natural gas is the transitional fuel that is cleaner than coal and oil that has been experiencing a boom in the United States for the last few decades. Natural gas is most familiar to us in the form of heating and cooking on gas ranges. It is abundantly available and modern technology has made it much more accessible and cheaper than other energy sources. Hydraulic fracturing, known short as fracking, is the combination of technology with water and chemicals, and high pressure, that breaks through shale rocks to capture energy. The Climate One podcast titled “ Fracking Boom,”explains America’s recent obsession with fracking, surrounding its history, economic stimulus, construction, and community opposition among other issues. Presenting the talk were Russell Gold, author of The Boom: How Fracking Ignited American Energy Revolution and Changed the World, Mark Zoback, professor of Geophysics at Stanford University, and Trevor Houser, co-author of Fueling Up: The Economic Implications of America’s Oil and Gas Boom. The three guest speakers shared their expertise on how the fracking boom can power America’s economy, but can only be successful if the process in making the wells for fracking, are done along guidelines within the regulations.

This week’s discussion was to be on “environmental and economic issues” which we’re facing in our home countries, I decided to do mine on fracking. I’m sure most of us in the US have heard about fracking. There are pros and cons to it, the pro side is that it taps into the natural gas within the earth and provides a natural resource. This, in turn, will allow the US to reduce their reliance on foreign oil. The con side is what it is said to be doing to the earth. The technology isn’t new and neither is the knowledge that there is natural gas and oil below the earth’s surface. However, there’s growing concern from environmental groups concerned with how much harm is being done by pumping water and chemicals into the earth. I’ll only give a few examples of each, considering how many there are. The whole debate has many people are asking “is it worth the risk?”

The global crisis surrounding energy needs grows in severity as time goes by and in order to solve it, scientists have created the innovative solution known as hydraulic fracturing (Source 5). Hydraulic fracturing, commonly referred to as “fracking,” is a process that injects water, chemicals, sand, and other materials into layers of shale. The injected mixture cracks the layers of shale, releasing trapped natural gasses that can be collected (Source 1). Fracking occurs deep under the surface of the earth, miles below the groundwater that is accessed from drinking-water wells. In the mid-2000s, “fuel prices were rising rapidly” (Source 5). Hydraulic fracturing was a cheap solution that not only brought the world out of a state of emergency but made oil prices drop. The new method of gas collection grew the oil and gas industry, benefiting people all around the world. Fracking is a cheap, effective solution to global needs, but is under attack from skeptics who worry about environmental hazards. The claims against fracking not only have no real evidence but also risk destroying the jobs in the oil and gas industry as well as support for energy needs. Hydraulic fracturing is not only a cheap but a safe method that supports global needs surrounding both energy and jobs.

anomaly and stated to be caused by radiation. We discontinued selling calves for two years.” Due to Alvarado being largely an agricultural community, many resident’s livelihoods were impacts due to their inability to grow crops or raise cattle without the fear of contamination or radioactivity. Additionally, when David went to confront the oil companies about the cancerous side effects undoubtedly due to their fracking operations, he was told that, “The fracking ingredients/chemicals were proprietary and they could not be released. I also unfortunately fought cancer through the statute of limitations and could not sue them to make them stop drilling”. These enormous gas companies lie, deceive, and take advantage of residents all to increase

Fracking is the process of injecting liquid at high pressures into rocks deep under the soil. This process is meant to open up these rocks to let out oils and gases inside the rock. Fracking is a very common practice that is used all around the world, and because of this fracking has been a controversial topic for quite some time; Is it a good or bad process? Fracking has many pros and cons to it that make people question its reliability and safety throughout the world.

Oil was first found in Texas in July 1543 by the Spanish explorer Luis de Moscoso of the Desoto expedition. Luis de Moscoso first saw the oil in the Galveston Bay between High Island and the Sabine Pass by Arthur Texas, was were Luis Moscoso saw oil floating on the water. Texas first economically significant oil discovery didn’t happen until another 300 years. Texas has been the main leading producer of crude oil in the United States. Based on an article online earthjustice.org, “Since 2005, more than 12,000 wells have been fracked in the Fort Worth area alone Fracking is a type of drilling that has been used over sixty five years. Hydraulic fracturing is a different process it includes a safely tapping shale as other tight- rock formations. By drilling a mile or more below the surface before turning horizontal and continuing thousand several feet more. Fracking is an important topic in Texas whether it benefits the economy in a positive way or affects us in a negative way. Therefore, fracking has its pros and

Hydraulic fracturing is a process used in nine out of 10 natural gas wells in the United States, where millions of gallons of water, sand and chemicals are pumped underground to break apart the rock and release the gas. Scientists are worried that the chemicals used in fracturing may pose a threat either underground or when waste fluids are handled and sometimes spilled on the surface. The natural gas industry defends hydraulic fracturing, better known as fracking, as safe and efficient. Thomas J. Pyle, president of the Institute for Energy Research, a pro-industry non-profit organization, claims fracking has been “a widely deployed as safe extraction technique,” dating back to 1949. What he doesn’t say is that until recently energy

Fracking adds to the economies benefit while also adds to the environment's benefit as well. For instance, certain statistics show that fracking is cheaper and safer than burning coal. Along with benefiting the environment it also helps human health. This is so because 40% of the world’s energy is produced by natural gas causing citizens health to improve. Another example of it benefiting the economy along with the environment is that it is known to be cheaper to drill a well than most energy obtaining methods. Thus showing that fracking benefits this country environmentally and

Morse attempts to show the positives of fracking by citing economic benefits. One of his purported benefits is that fracking will “bolster employment by some three million jobs” (Morse 3-7). Although this evidence is convincing, it relies on rosy estimates and ignores the potential loss of jobs associated with fracking. Even Pennsylvania, a state that experiences one of the strongest economic impacts of fracking, has not experienced such levels of growth and prosperity. Former governor Tom Corbett campaigned on the fact that fracking supported 200,000 jobs, yet the Pennsylvania Department of Labor and Industry reported “…just over 30,000 people were employed by industries directly tied to the fracking boom in the third quarter of last year” (Foran 7). The PDLI did also report the 200,000 figure as an expanded estimate; however, officials admit it is mere guesswork.