Risk Reward and Fracking

For the past twenty to thirty years, hydraulic fracturing, more commonly known as fracking, has been the number one source of natural gas, oil, and energy in the United States. The process of fracking is that a well is built above the ground and then a drill digs several thousand feet deep into the ground to extract the oil and natural gas that is trapped inside of rock formations. Fracking is very controversial because of the cost of the process and the environmental “threats” that it poses. From methane emissions to earthquakes, fracking has been accused to be linked with several environmental issues. To prevent any environmental dangers, states place regulations and boundaries that energy companies have to follow in order to build a well and keep it up and running. The EPA (Environmental Protection Agency) also works with states to help regulate these wells. More importantly, fracking in the United States is very important and acts as a bridge to the future. While it may be argued that hydraulic fracturing is not beneficial to the economy and harmful to the environment, fracking in the United States should not be banned because fracking is not only imperative to the growth of jobs and the economy, but it also does not put the surrounding environment in danger.

There are many positive arguments that support the concept of Fracking. Fracking helps out the economy and our energy in many ways. Today, natural gas and oil is needed all over the globe because it makes up most of our energy consumption. (US Dept. of Energy) This is why many support Fracking. Fracking is also needed today because it seems to be the most profitable and attractive way to obtain oil and natural gas. Many places around the globe today are being exhausted of natural gas and oil reserves, which urges the push for fracking. Fracking also has many positive economic effects. The main thing fracking does is create jobs, which greatly strengthens the economy. In addition, fracking has recently been shown to provide jobs for millions of people. A recent report done by Tamara Thompson showed that Fracking has accounted for 385 billion dollars in economic activity in the United States. Fracking is also very profitable. Extracting natural gas and oil today is very expensive, but because of fracking, there is an alternative form to recover natural gas resources that

the desire to achieve independence from foreign energy sources” (Ben Harris). “The environmental safety of fracking has yet to be conclusively demonstrated, they say, and the industry has a poor track record”(Ben

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

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.

When most people think of Texas they think of the booming oil industry that the state has. According to our textbook, “Texas accounts for almost one-third of the country’s natural gas production and holds almost almost a quarter of the country’s natural gas reserves.” Texas has greatly invested in the recourses that are found within the state which makes gives the state a huge economic advantage. When fracking is used to help turn out even larger quantities of natural gas, the economic impact is huge. If the state greatly invested in fracking sites and the use of both traditional and horizontal fracking, the economic gain in the near future could be huge. The state could be turning out twice the amount of natural gas as it is

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

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

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.

Hydraulic fracturing, also known as fracking, has become a large part of the economy in northeastern Pennsylvania, and has impacted the area’s economy, environment, and mindset. Fracking is the process of extracting natural gas from the earth, and the industry it has brought to areas like northeastern Pennsylvania shows effects consistent with the ideas of neoliberalism and hegemony.

Fracking is a very debated topic around the world, whether we should continue fracking for the oil and gas it produces, or if the pollution caused by fracking is too much of problem. On the negative side of fracking, the effects from include: worsened asthma, stress, heavy pollution around the oil and gas sites, etc. If you look on the positive side of fracking you’ll find it is a way of producing oil and gas that could take America to the top in terms of energy export around the world, and it creates numerous jobs, which surely helps out the American economy.

Fracking has brought the world’s energy supply from a crisis level to a stable supply that supports global energy demands. As energy prices rose and the energy supply slowly decreased, experts began to

Hydraulic fracturing is a public policy that devises the query of whether the economics of the process justifies the risks because it boosts jobs based on inexpensive industrial inputs, but at the same time, is at the center of several controversies concerning environmental law, economic growth, and public health. Hydraulic fracturing, commonly known as fracking, is a process to release natural gas and oil from the ground. The contemporary period of fracking correlates to the progressive era conservation movement during 1890-1960 because both reveal the idea that humans have dominion or control over the environment. According to the progressive era, humans must plan their use of fracking to make sure it maximizes wealth and preserves the environment in the future. The debate between the advocates and the opponents argue if economics prevail over the risks involved in fracking. Nonetheless, the negative influences on

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 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,