The New Energy Agency ( Iea )

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

After decades of trial and error, in 2001 George Mitchell, Chairman and CEO of Mitchell Energy & Development Corp., cracked the code on what is today considered to be the new gold rush of the energy industry. By successfully commercializing hydraulic fracturing in the Barnett shale deposit, Mitchell ushered in a new opportunity for the United States to emerge as the largest natural gas producer in the world. Higher production of shale gas has reduced energy prices over the last five years and has increased U.S. energy self-sufficiency. Since it is viewed

The American energy revolution, otherwise known as The "Shale Gas Revolution," is described as being the big change in the ways in which we get our oil. In other words, it is a way of making the longevity of the oil we use as energy last just a little bit longer. The conventional oil we extract from the ground is rapidly running out, fracking, or hydraulic fracturing, is another way to get more oil out of the ground from less. Much of the oil we have left on Earth is trapped in shale rocks beneath the surface, not easily retrieved. These rocks are impermeable making it difficult to get to the oil enclosed inside. By the use of fracking, which opens up these rocks in order to let the natural gas and crude oil inside flow out, we increase the time in which we have oil left in the Earth, to use this valuable fossil fuel. According to Gold, in 2008 it was a small energy firm located in Canada that was first to administer a report entitled "The Shale Gas Revolution," which took to its supporters and is now used commonly. Gold believes in the revolution because he recognizes that the old ways of extracting the oil are crumbling, coal is no longer the major source of energy for making electricity, and a big change is occurring (Gold, 2014).

Klare argues that discovery of a natural resource, for instance, oil, result in producers seeking and exploiting the most desirable, best quality and those closest to markets. Over time, these “easy” resources become scarce, of poorer quality, harder to extract and extend into areas further away from the market. This subsequent need to extract “tougher” resources has catalyzed an age of discovery that energy experts call the “shale revolution.” Daniel Yergin, an author and energy optimist describes the “natural gas

The Haynesville shale in Louisiana is one of several unconventional gas plays that have been discovered in the U.S. in the past decade and promise to dramatically change the course of future energy development given its enormous resource potential. Unconventional gas resources are abundant, but their development is particularly sensitive to technologic risk, geologic uncertainty, and gas price. To produce at commercial rates, shale gas wells require horizontal drilling and hydraulic fracturing which significantly increases the capital cost. The purpose of this paper is to examine the price sensitivity of Haynesville wells and the economic viability of the play. We characterize the operating envelope under which Haynesville wells are economic

Hughes states that “hydraulic fracturing seems to be the largest source of induced seismic activity” (Hughes 26). Seismicity concerns have been allayed by the Royal Society and the Royal Academy of Engineering, who write that there “is an emerging consensus that the magnitude of seismicity… would be… negligible” (Royal Society 4). This scientific consensus suggests that Hughes’ arguments against shale gas are inaccurate. He fails to provide substantial evidence in support of his opinion that shale gas will not be an economic boon moving forward.

A new player -at least in the United States- is entering in the game with a lot of enthusiasm among some of the audience, and a lot of skepticism by some others, that this unconventional player will overtake the conventional ones any time soon. Although, Big hops are held on the new player in the future. This new player is oil shale. The number estimated of oil shale in place in the US is around 4.28 trillion Barrel. An immense amount that’s even hard to imagine. Unfortunately, this amount is not 100% recoverable and the actual recoverable amount is unknown due to the lack of economic methods of recovery. The extraction of economic quantities of oil shale will be true in the near future due to

It has been argued that Conventional oil production has reached its peak and is now on a terminal, global decline however, it must be noted that oil is not finishing anytime soon but certain forms of it are being experimented in terms of chemicals, geography, geological and economically. Others allege the era of oil is coming to an end. But certainly not

The Marcellus shale has been one of the most important developments in gas production over the past few years. Having a good understanding of what this gigantic gas reservoir can do to shape the future of the natural gas industry is vital to understanding today’s U.S. economy. The Marcellus shale has rich black organic shale with low density,and it is located in West Virginia, Pennsylvania, and New York. In addition, small areas of Maryland, Kentucky, Tennessee,

In the last decade, oil and natural gas development have rapidly expanded in the United States, fundamentally reshaping domestic energy production. It is abundant both within the United States and around the world. Currently, natural gas provides 22% of the U. S. energy demands. It also

The purpose of this analysis is to examine the process of extracting natural gas in shale deposits—Horizontal High Volume Slickwater Hydraulic Fracturing, or “Fracking”—and determine the long-term viability of this process.

The amount it cost for drilling in the United States has sky rocketed over the span of 10 years. Its higher expenses associated with fracking and horizontal drilling has cost too much. Fracking involves pumping water, sand and chemicals into shale at high pressures to exact gas or fluids that will be able to reach a well. Renewable energy is under a serious threat because global shale oil industry is expanding globally at fast rapid speeds. There is a new report circulating that by 2035, shale oil could be accountable for about 12 per cent of the global energy production, and this will cause a drastic drop in oil prices to about $50 per barrel. According to the director of sustainability and climate change at PwC, Jonathan Grant, these low oil cost might just extend the production and make alternative low carbon technologies a lot less appealing. This isn't exactly the most attractive strategy asking to leave fossil fuel reserves untouched, as the report makes note

The report will look into current market situation and history of shale gas and its likely forecast in price movement in the future. Additionally, it will outline determinants that have led to increased demand using a case study of the United States and likely supply and demand to the rest of the world.

A recent study undertaken by the Chinese Ministry of Land and Resources showed that China has 25.08 trillion cubic meters of proven shale oil and gas reserves, which is more than 200 times the national’s annual energy consumption rate. These statistics put China as the leading nation with the largest proven shale oil and gas reserves globally whose exploitation could open more opportunities for the country including reduced reliance on coal and energy imports from foreign countries, increased resources, and environmental conservation, and increased global economic superiority among others. Moreover, China would transform from an importer of oil and liquefied natural gas (LNG) to the world’s leading supplier, and would also imply that the country

Daniel Bosque questioned that whether shale oil is able to make money back. I think his concern is valuable. Because shale oil is different from normal oil, shale oil come from rocks and is generally in solid form. Difficult to be explored means this kind of explore will use much harder technologies. As a result it will cost lots of money. Regular oil comes from ground which is easy to be explored, can cause little money. So experts should make should hale oil can rain more than buy oil from foreign countries, because shale oil is harmful to