Fracking The Economic And Environmental Effect Of...

Fracking Fracking, a technique used to extract natural gas and oil from the earth s subterranean rocks, is by no means a new thing. As the United States strives for energy independence, the number of wells produced by hydraulic fracturing has increased substantially. This method of harvesting natural gas and oil may contribute to pollution and has become a controversial topic. It is important to understand the pros and cons of fracking before drawing conclusions. Analyzing the economic and environmental effects of hydraulic fracking will show that fracking has economic benefits, while its environmental impact is no greater than that of other energy sources. The origins of fracking date back to1862 and the battle of†¦show more content†¦Wells located in Texas and Oklahoma were the first two Halliburton used hydraulic fracking on in 1949. The Society of Petroleum Engineers (SPE) â€Å"recounts that 332 wells were fracked in the first year alone, with up to 75 percent production increases recorded† (MacRae, â€Å"Fracking: A Look Back†). In the 1990 s the Mitchell Energy Development Corporation began work on a horizontal fracking technique. In this technique the well is first drilled vertically and then drilled horizontally. â€Å"About 90 percent of the wells in operation have been fractured – and the process continues to be applied to boost production in unconventional formations – such as tight gas sands and shale deposits† (Shooters – A â€Å"Fracking History†). Hydraulic fracturing like other sources of energy is not without controversy. Although economists and the right wing support fracking for its potential to grow the GDP, environmentalist and the left rally against fracking and its negative impact on the environment. Christopher Skroupa stated, â€Å"As consumer and stakeholder, how do we sort out the debate on fracking—it’s risks and opportunities—and how do we insert a â€Å"sanity check† into its politics?† (â€Å"The Politics of Fracking†). Comparing hydraulic fracturing to wind, solar, nuclear, and coal is an important step in determining it’s value. Oil and natural gas production in the United States continue to increase as frackingShow MoreRelatedThe Economic Report On Fracking, Is It Worth It?1465 Words   |  6 PagesWeekly Economic Report Fracking, is it Worth it? Ron Withall Business 630, Dr. Lynn Reaser SUBJECT Our dependence on foreign oil and natural gas has created a vulnerability affecting our national security and economic stability. Up until this past decade there was an appreciable decline in our oil and natural gas production in the US and we were tied to world market price fluctuations. Oil prices and natural gas prices rose and fell based on OPEC’s and other large oil and natural gas producers’Read MoreThe Pros and Cons of Fracking Essay1352 Words   |  6 Pagescountries 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 AmericansRead Mor eThe Effect Of Hydraulic Fracking On The Oil And Gas Industry1044 Words   |  5 PagesIntroduction Hydraulic Fracking is an oil and gas extraction process used in the past 60 years. The process consists of drilling the underground until reach a shale layer, and them a high-pressure fracking fluid is injecting in this hole to fracture the rock underground, which will provide oil and gas to be extracted. As a huge extraction process it requires large quantities of water, sand and chemicals, which are to produce the fracking fluid, and in most of the cases all this water and chemicalsRead MoreA Brief Note On Environmental Injustice And Fracking1341 Words   |  6 PagesKennedy October 8, 2015 Environmental Injustice and Fracking Recently, North Carolina has been conducting pilot studies to determine whether or not hydraulic fracturing should be pursued in the state’s shale beds, a topic that causes much polarized debate. Hydraulic fracturing, otherwise known as â€Å"fracking,† uses water, sand, and chemicals to release natural gas from as far as 10,000 feet below the Earth’s surface. Supporters of fracking claim that natural gas is an ideal â€Å"bridgeRead MoreHydraulic Fracturing: The Future of America’s Energy Essay1285 Words   |  6 PagesHydraulic Fracturing, also known as fracking, is not a novel concept. The hope of being able to access fossil fuels trapped inside layers of shale deep beneath the Earth’s surface was achieved by the process of fracking, developed in 1903 (energyindepth.com). Over the last century, hydraulic fracturing has become an efficient and environmentally friendly way to access the natural gas needed to meet the United States’ high demands. With the condition of the environment rapidly deteriorating, theRead MoreHydraulic Fracturing And Its Effects1500 Words   |  6 Pagesone are plausible in America, partially due to hydraulic fracturing. Hydraulic fracturing is a process which began in the late 1940’s as an experiment and has since expanded into a global method to efficiently extract natural gases. It has led to various economic benefits, including job creation and has lessened the economic dependence of the United States on foreign countries for oil consumption. Despite this, opponents of fracking cite environmental harms including various pollutions and contaminationsRead MoreThe United States Of The Industrial Revolution1720 Words   |  7 Pagescame up with a practice called hydraulic fracturing, also known as fracking; this process utilizes water pressure to fracture or break a rock in order to release and collect fuel such as gas or oil. In recent years, companies have mixed sand, chemicals and other proponents to retrieve the maximum amount of gas that each drilling site has to offer. A heated debate has begun concerning these mixtures and the money involved in fracking. While one side asserts that fracking should be banned because of potentialRead MoreThe Crisis Of The Fukushima Nuclear Plant After An Earthquake1566 Words   |  7 Pagesimportant reasons: their undesirable impact on the environment and it has created the economic boom in the US. There is an agreement between the public and experts that nuclear fission is not the answer. The catastrophic meltdown of the Fukushima nuclear plant after an earthquake in Japan provides the proof. The introduction of horizontal drilling by the gas industry combined with successful development techniques of hydraulic fracturing has showcased as a solution to solve these problems altogether. WeRead MoreFracking And The Gas Industry1573 Words   |  7 Pagesturn of the millennium, hydraulic fracturing - a process for extra cting natural gas- has spread rapidly across the United States. High volume hydraulic fracturing, or â€Å"fracking,† is a process in which water and chemicals are injected into shale formations underground in order to release trapped natural gas. As fracking spreads throughout the United States, there are more and more reported cases of contaminated drinking water and illness among citizens living near fracking sites. Even with these casesRead MoreAnalysis on the Ethics of Hydraulinc Fracturing835 Words   |  3 Pages Analysis on the Ethics of Hydraulic Fracking Despite the supposed short-term benefits that hydraulic fracturing, also called â€Å"fracking†, may provide for society, the amount of negative externalities conjured via this method of natural gas drilling heavily outweigh the pros. Proponents of the controversial drilling method support their argument referencing potential economic benefits gained from the extraction of hydrocarbons that were previously inaccessible by conventional technologies. However