The Oil And Gas Revolution

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.

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

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

Shale is found in many colors but those that are very dark or black contain oil and gas. Conventional drillers look for pools of oil and gas above shale rock. “The oil and natural gas migrated out of the shale and upwards through the sediment mass because of their low density. The oil and gas were often trapped within the pore spaces of an overlying rock unit such as sandstone. These types of oil and gas deposits are known as "conventional reservoirs" because the fluids can easily flow through the pores of the rock and into the extraction well”. (Geology.com King) Conventional drilling into shale has declined because those conventional supplies are disappearing and drilling companies have known this for quite some time. They also know that more oil and gas can be extracted. Geology.com’s Hobart King provides this insight. “Although drilling can extract large amounts of oil and natural gas from the reservoir rock, much of it remains trapped within the shale. This oil and gas is very difficult to remove because it is trapped within tiny pore spaces or adsorbed onto clay mineral particles that make-up the shale. In the late 1990s natural gas drilling companies developed new methods for liberating oil and natural gas that is trapped within the tiny pore spaces of shale. This discovery was significant because it unlocked some of the largest natural gas deposits in the world” (King Geology.com). The site goes on to provide this outlook for fracking oil

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).

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

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 began in 1947 and still happening until now. People have used fracking to produce more than one million oil and natural gas wells since 1947. Currently "fracking accounts for 50% of locally produced natural gas and 33% of local petroleum” (Engelder 274). It proved that fracking is valuable because people can get too much natural gas and petroleum from fracking. There are 2.5 million "frac jobs" that had been performed on oil and gas wells around the world and more than one million of those are in the United Stated. Oil shale resources are abundant in United States, such as in

Did you know that at one point, the United States (U.S.) had a fear that they would run out of natural gas? Roughly a decade ago, government officials and industry analysts predicted that the U.S. would have a shortage in natural gas, the main source of energy in the states. Hydraulic fracturing, or fracking, would shortly be the answer to the problem. Hydraulic fracturing was developed sixty years ago by George P. Mitchell, who combined hydraulic fracturing and horizontal drilling as a process to extract natural gas from within the ground. Fracking is the process of pumping millions of gallons of chemically treated water, sand, and various chemicals into deep shale formations at pressures of nine thousand pounds per square inch or more.

One of the issues that Texas is currently facing is rooted in a populous industry, fracking. Texas has always been known for being oil and gas friendly, but cities are becoming weary about this industry invading highly populated suburban areas. While local governments have been able to block out drilling and gas wells for some time now, the state has taken a position that is becoming increasingly supportive of the oil and gas industry.

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

How does fracking and the oil and gas industry affect each of us personally? It is estimated that the oil and natural gas industry employs over 2.8 million people either directly or indirectly and employment in the industry, as a result of fracking, has grown substantially (Figure 3). In recent years we have seen oil and natural gas prices plummet due in part to hydraulic fracturing. Petroleum prices that were once over $4.00 at the pump are now hovering around $2.50. Natural gas prices have dropped dramatically (by 47%) since the fracking revolution. According to a report by Catherine Hausman and Ryan Kellogg on the “Welfare and Distribution Implications of Shale Gas”, natural gas production grew more than 25% between 2007 and 2013 driven by technology innovations in extraction (Figure 4). In

The debate over fracking cannot simply be limited to the discussion of environmental impact and health concerns. While these subjects are critically important to our future, so is the economic stability of the United States and its energy security that has been a point of major concern for decades. Until recent years, the hydrocarbon industry has been lead by Middle Eastern OPEC nations, and by natural gas production in places like Russia. For the last three consecutive years, the United States has

In 1848, James Marshall discovered a single nugget of gold in the American River in California, setting off a massive migration west as hundreds sought to capitalize upon the Gold Rush. Today, a similar situation is playing out. In the late 2000s, new technology enabled workers to extract natural gas from previously inaccessible shale deposits through horizontal hydraulic fracturing. This “shale boom” has had companies racing to capitalize upon the potential of vast natural gas and promises of energy independence and cheap energy. Yet, as the miners during the Gold Rush found upon arriving to California, scientists today are finding that many of the initial claims are not as they seemed. Companies are recklessly continuing, prospecting for natural gas deposits. Hydraulic fracturing is a means of extracting natural gas from deep, previously inaccessible shale deposits. It involves injecting a fracking cocktail mixture of water, sand, and various other chemical fluids into the ground at very high pressures to literally fracture the ground, releasing natural gas that can then be collected. Natural gas is a finite fossil fuel, yet due to the recent fracking boom, many people in the United States have heralded it as the future of America’s energy, the way to energy security.