Low Fuel Cost

This is even more important because so many Americans lost their jobs as oil and gas production, "with the number of employees in oil and gas with the number of employees in oil and gas extraction shrinking by over 50 percent to 118,400 in 2003" (Hassett and Mathur). Americans were losing jobs in gas production starting from the early twenty-first century due to the fact that "easily tapped oil reserves grew scarcer and domestic oil production declined", until improvements in fracking for shale gas created more jobs(Hassett and Mathur). The jobs fracking creates is much needed to boost the sagging American economy, but even more important to the economy is the gas produced.

Despite the real life anecdote described above, a lot of people don't understand why and how gas prices rise and fall. There's an increase in attention to gas prices when they're higher or lower than usual because that directly concerns them as a consumer. Even when gas prices are higher, consumers keep paying because there's not really an alternative out there besides buying a new environmentally friendly car. However, there's currently a much deeper problem in the United States related to gas prices. Today, in particular, gas prices are a lot less than they have been but most Americans brush it off and wonder something along the lines of ""Who is that bad for?"". I mean, fuels costs eat up a large share of earnings in the

“Fracking” isn’t a word that most people are familiar with unless they are well informed or active in local government or natural gas extraction. “Hydraulic fracturing, or fracking, involves extracting natural gas from shale formations underground” (Collier, Galatas, Harrelson-Stephens, 2008). During the process known as fracking, millions of gallons of water are shot underground into shale formations to help bring the natural gas trapped inside the formations to be released so that it can surface and become available for extraction. This is the technique that is used for traditional fracking methods. Although fracking increases the states natural gas production, it also carries some negative side effects that are affecting the state and its people.

By increasing the areas allowed for domestic oil drilling, the United States can cut the amount of oil it most import each day in half.

Fracking in North Dakota alone went from 4,600 to 6,600 wells just from 2009-2012. Due to the increase in wells, natural gas extraction went from 7.5 million to 16.9 million barrels of oil (Loris 2). This increase in the oil and gas industry also provides jobs in several fields such as geology, engineering, rig working, truck driving, pipe welding, and many more, which means that the US unemployment will go down as long as this economic boom keeps up. However, fracking provides more than just jobs; it provides an economic boost to the communities where fracking occurs. States like Louisiana and Oklahoma practice fracking in more rural areas and it is seen as an economic boost more so in those places than in states like Colorado, where fracking

Therefore with resources becoming scarce humanity needs to extract the most from what the earth has. In fact from adding gasoline to your vehicle, to power plant facilities using natural gas instead of burning coal to power homes, to computes and cell phones, almost everything in our lives depend on an oil based product and fracking is the solution for the depletion of fossil fuels. Three controversial issues with hydraulic fracking are nearly everything people use daily has a petroleum based product, contamination of drinking water also the surrounding soil, and the financial impact on the economy. Many people in America do not realize the positives that comes with fracking. It is a great way to help the economy in the United States. Fracking decreases the price of all petroleum products including the price in gas. When gas prices decrease it allows other products such as food, plastics, and other petroleum goods to also go down in price. With these savings being passed down to the consumers it makes the cost of living in America much easier for many people who are living with a minimum wage budget. Minimum wage going up in Oregon and gas prices declining creates a stir in people making them spend more and builds consumer confidence on what is spent. In turn this rapid spending creates a boom in the American economy. With fracking producing nine million barrels a day and decreasing prices by forty five

If the government decides to continue with the drilling of new sites or expand the Keystone XL Pipeline there are environmental dangers and concerns to follow and still not enough oil production to fuel the countries demand. The importing of oil from foreign countries would still be a necessity. For now the prices of gasoline are still on the rise and with use of the oil money future tool prices are sure to continue rising. As it seems in this current economic crisis, consumers need to make their voice heard with the government and hope something will change with the way oil is produced and imported to lower the cost for everyone.

The implementation of fracking has had a dramatic economic impact on the United States. The use of fracking in the last decade has increased the production of natural gas from shale formations by 10 times. (Issues) This has resulted in the United States moving more toward natural gas and away from coal to fulfill its energy power needs. In fact, one of the largest production growth areas of

In America poverty is a problem; fracking helped with this problem because it crated job opportunities. Although people in America have had a hard time finding good paying jobs, fracking has helped solve this problem. Ed Rendell confirms that “natural gas restores jobs for hardworking Americans”, and it created “thousands of solid jobs with good salaries”. While fracking helped people who are having troubles finding jobs, but it also creates new opportunities for other things like businesses. Ed Rendell points out that “It’s already creating new opportunities consumers and businesses and promoting economic growth”. Another thing that has benefitted from fracking is construction industries. Ed Rendell states that “steel, lumber, and construction

Being able to increase our own supply would help the U.S. by allowing us not to be so dependent on foreign oil as we are now. Also with the population of the U.S. still growing and the increase of drivers in the states it would pay to be able to have more domestic sources for the oil we consume.

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

The demand of gasoline has increased steadily over the last twenty years. In 1981 the U.S. averaged 6.5 million barrels of gasoline consumption per day. By comparison, in 2004 the U.S. averaged 9.2 million barrels of gasoline consumption per day. For most of this time period, gas prices stayed relatively the same. This is because the U.S. refineries increased their production to meet the demand and maintain the equilibrium price. Also during this same time period worldwide demand for crude oil increased 27%. Crude oil producers also increased their production to meet the demand keeping prices the same.

Drivers realize that the price of gas is tied to the market value of crude oil, and has a direct impact to their daily commutes, errands, and vacations. However the reality is that the price of fuel has implications much grater than most consumers realize. Fuel prices affect nearly everything we purchase. For example, the price of farm commodities and food increase because farmers pay more for the fuel for their farm equipment and trucking firms pay more for fuel to get the commodities to market. These shipping “fuel surcharges” impact all goods

Fracking is important to the U.S. economy because fracking provides job and it helps people by making natural gas less expensive. According to Daniel Simmons, Director of the Institute for Energy Research, the “development of the Marcellus Shale is estimated to create more than 111,000 jobs and add $10 billion to the state's economy in 2011.” (Groundwater contamination)Fracking provides jobs and it also makes the price of gas go down. Directional drilling helps increase the amount of natural gas one well can produce in the U.S. Natural gas has gotten cheaper in the U.S. by a decrease of 62% which allows people to afford to heat their homes. While fracking improves the economy, it also helps the U.S. make more of it's own

The US consumed 142 billion gallons of gasoline in 2007 and the tax applied on it is 18. 4 cents on one gallon. All around the US, there are around 162,000 retail gasoline outlets. With the price of crude oil hovering around $100 a barrel, it is no wonder that concern is growing about the gas prices being so high. After all, modern economies are kept moving by this lifeblood. For instance, in the United States alone personal vehicles consume more than 140 billion gallons of diesel fuel and gasoline per year.However, there are several factors that contribute to the gas prices being so high. Given below are a few of them. Increasing Demand for Oil One of the main catalysts for the incessant rise in gas prices has been one of the most