The Oil And Natural Gas Industry On The Us Economy

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.

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

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

To environmental advocates and opponents of fracking, the process is more than dollars and cents. On a rudimentary level, the oil and natural gas produced via hydraulic fracturing are fossil fuels, and thus harmful to the environment in comparison to renewable, clean sources of energy such as solar and wind power. These renewable energy fields are likewise capable of bolstering American energy production and independence and creating high paying careers. Moreover, research suggests that fracking practices could cause serious methane leaks, canceling out the supposed reduction in greenhouse gas

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.

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 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

Fracking brings jobs and money to the United States by fracking . “ The development of marcellus shale is estimated to create more than 111,000 jobs and add $10 billion as the money went to the state's economy in 2011.”( no evidence of groundwater contamination) “In 2008, only 4 percent of United States natural gas production came from "fracked" shale wells.”(Fracking and Poverty)The number of shale wells grew to 40 percent since 2012. Fracking helps the low income people so that the people can afford natural gas for the first time. Fracking helped the United states economy get money since 2011 and employs tons of people. The price of natural gas has went down 66% since 2011 so it is cheaper to buy for the first time. Fracking is making

The main reason people oppose fracking is that fracking is believed to cause geological instability. In 2011 Prague, Oklahoma experienced an earthquake of 5.7 magnitude and was confirmed to me a direct result of pumping millions of gallons of flow back water underground. This catastrophe destroyed 14 homes, damaged about 200 buildings, and was felt across 17 states (Prud'Homme). This incident and the other 2 in 2011 show that class II Hydro fracking wells in particular cause geological instability. As a direct result of this instability it allows the ground water to be contaminated with deadly chemicals.

Imagine an economy in the United States if we were an oil exporting country, like those in the Middle East. The States falls victim to those countries because we do not export quite as much as they do. This problem could potentially be solved by upping the amount of oil and gas fracking. Then, that now unused oil can be sent out to other countries, turning a profit here. Although many people believe that it is harmful to the environment, and bad for the public around it. The largest being that it will contaminate the underground water supply. Despite this, many people can agree that it is overall beneficial. Hydraulic fracturing is essential to the United States, because it creates jobs, it generates income, it could potentially turn the economy around, and it is crucial to our energy production as a whole.

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,

Fracking adds to the economies benefit while also adds to the environment's benefit as well. For instance, certain statistics show that fracking is cheaper and safer than burning coal. Along with benefiting the environment it also helps human health. This is so because 40% of the world’s energy is produced by natural gas causing citizens health to improve. Another example of it benefiting the economy along with the environment is that it is known to be cheaper to drill a well than most energy obtaining methods. Thus showing that fracking benefits this country environmentally and

Even though fracking can cause environmental problems and can cause problems with air, water, and your body, it can be good for our economy. Fracking generates thousands of jobs and can give millions to the local economies for their own problems (Beaver 126). With so many jobs for people and money to local economies it also is helping the overall

Fracking is a controversial subject as it has pros and cons depending on what people look at and whose side one ison when it comes to the end goal, will it be power, or the environment for the world and around the area of the drill? There are more cons however with fracking than there are pros as it is one of the most harmful things we have today ruining peoples homes and living sources.

Some of the issues raised by people who argue against fracking argue that it uses huge amounts of water that has to be moved to the site, which greatly impacts the environment. There is also a concern that dangerous chemical from the fracking site may leak into the ground water which can certainly affect the health of the people who live near the site. There are also concerns with the fact that fracking can cause tremors, or small