The Economic Report On Fracking, Is It Worth It?

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.

If John D. Rockefeller, one of the first oil tycoons, were to look at the oil industry today, would he believe his eyes? With millions of oil barrels being imported and exported each year, the oil industry has changed dramatically since the 19th century. At the forefront of the oil industry is the emergence of an oil drilling technique known as fracking. Fracking is an unconventional drilling process that is accomplished by using high-pressured water to release oil and natural gas from rock formations, known as shales. The use of fracking in the United States has made it one of the top oil producing countries in the world. However, this newfound oil and gas drilling method has not come without its costs. Despite the economic boom near drilling locations, politically, fracking has caused some international relationships to be strained. Also, fracking is seen as highly controversial by conservationists because of the environmental threats that it poses. The drilling method of fracking has deeply impacted the United States from an economic, a political, and an environmental standpoint.

Introduction: In the kind of world we live in today, we are in dire need of oil. Our cars need oil; our buses need it, our planes and machines. Oil and gas production are very important in order for the many tasks we do day to day and we have become dependent on it. Fracking is a process that uses high pressure water and other chemicals to gather oil under the ground. Although fracking is a fantastic way to gather oil, there have been several problems that have been occurring. In Texas many jobs and drilling locations are appearing because of the high demand for oil. Fracking is a very good way to gather natural gas however; it is causing

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.

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

Hydraulic fracturing, also referred to as fracking, remains a very controversial issue in the world today. Fracking, a widely debated technological innovation, involves drilling deep down into the Earth’s surface to obtain natural gas (Shuckman 1). Natural gas, a flammable substance produced deep within the Earth’s surface and exploited as fuel, is obtained by pumping water, sand and chemicals into open passages, which allows the natural gases to move into production wells (Shuckman 1). Hydraulic fracturing enables necessities such as heating, cooking and electricity for Americans; however, oppositionists claim that it harms the environment and the United State’s residents.

“I´m very proud that the state of Vermont banned fracking. I hope communities all over California, and all over America do the same.”- Sen. Bernie Sanders. Although, fracking may seem safe, it really isn't. In fact, many have reported contaminated sources near fracking areas. However, living near a fracking well can cause a hard life in the household, that is near a site. Once again, problems arise as fracking becomes a common practice. Even though, there are advantages they are not reasonable. All in all, there are multiple reasons why fracking is not safe.

Introduction: In the kind of world we live in today, we are in dire need of oil. Our cars need oil, our buses need it, our planes and machines. Oil and gas production are very important in order for the many tasks we do day to day and we have become dependent on it. Fracking is a process that uses high pressure water and other chemicals to gather oil under the ground. Although fracking is a fantastic way to gather oil, there have been several problems that have been occurring. In Texas many jobs and drilling locations are appearing because of the high demand for oil. Fracking is a very good way to gather natural gas however, it is causing a lot of problems for society and the environment in Texas.

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

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.

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.

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,

The transition of power that is currently happening in American politics has brought an air of uncertainty, especially with regard to the environment. Specifically, an issue that has recently gained attention has been hydraulic fracturing, or fracking. In simple terms, fracking is a procedure where the ground is drilled with water and chemicals in order to obtain natural gas or oil. Fracking is the most important public health issue at this time because the change in power is bound to create more leniency on big business, especially those involved with gas and oil (Garber, 2017). The procedure has been controversial because on one end, people argue that fracking will make the United States energy self-dependent, will create jobs, and will be

No matter what the government does to promote hydraulic fracturing, it is still going to be extremely unappealing to those knowledgeable on the topic. As Lisa Bracken states, “Crap is crap no matter what package you put it in” (GasLand). Hydraulic fracturing, or fracking, is the process of drilling about a mile into the shale below. Once the shale has been reached, water, sand, and a mixture of over 500 chemicals are injected into the Earth. When the pressure of the Earth hits a certain point, a portion of the injected water flows back up to the surface and the well begins to produce the valuable resource known as natural gas (McElroy and Lu 27). Fracking currently occupies thirty-four states and is quickly expanding. The government is

Fracking is a highly controversial practice that utilizes the injection of water, chemicals and abrasives to extract relatively inaccessible pockets of natural resources. Although fracking has the potential to benefit the domestic economy, the practice of hydraulic fracturing, if left unregulated and mismanaged poses significant risks to the environment, the ecosystem and safety.