Instead, we can rely on ourselves to provide energy for our own residents. ![]() However, the lack of fossil fuels and the fact that they are not distributed evenly all around the world is a source of real tension amongst some of the most influential countries of the world.īecause we now have more access to more gas deposits, however, we now no longer have to rely on other countries around the world for at least some of our fossil fuels. The politics of the world would be difficult enough without throwing energy problems into the mix. The drop in prices of natural gas would result in a reduction of electricity prices in the US. Much of this increase has come from power stations that have switched from coal to natural gas due to an increase in the supply of it. As the production of natural gas has increased in the US, so has the production of electricity. In short, as a result of an increase in fracking, natural gas imports reduced by 25 percent between 20.Īccording to EPA, natural gas-based power stations emit much lesser carbon dioxide than coal power based power stations. ![]() The increase in the production of natural gas has impacted the trade balance between US and other countries. Taking an average price of $4.24 per thousand cubic feet, that’s a value of about $36 billion, due to shale gas alone.” In 2011, the USA produced 8,500,983 million cubic feet of natural gas from shale gas wells. Direct and Indirect Economic ImpactĪccording to the American Enterprise Institute, “The direct benefit of increasing oil and gas production includes the value of increased production attributable to the technology. ![]() Now gas can not only be found all over the world but it can also be accessed all over the world with relative ease, meaning that there is plenty to go around for the time being and for a short time into the future. See also UK Government Announces To Ban Plastic Straws, Drink Stirrers, And Cotton Buds in England By 2020 In order to give us more time to research safe and effective ways of powering our cars, heating our homes and cooking our food, we can now use this surplus of gas thanks to fracking. However, we are not yet ready for them to run out. We have more time to adapt – Fossil fuels are a nonrenewable source of energy: we have known this for many years.You can now heat your houses for much more reasonable prices than ever before. With oil still commanding extortionate prices, gas is actually getting cheaper and cheaper because it is abundant not only in this country but in others all around the world. Gas is becoming cheaper and cheaper – Because of its abundance, gas is a lot cheaper than it has been in years.Because fracking allows us to drill thousands of feet into the ground to get access to gas stored deep within the earth in stones far below the surface, we can get access to even more gas. Access To More Gas and Oilįracking allows us access to natural deposits of gas that we have not yet been able to get to with our other, traditional methods of extraction. There are a number of benefits of fracking as opposed to using other methods of extracting natural gas from the earth and from stones. But several hundred wells? Several thousand? The risks of any single well are tiny compared to a nuclear power plant. Although it has given us access to new deposits of shale gas, it can have a huge impact on the environment (like other fossil fuels).įracking is different. Fracking is not universally viewed as a good thing, however. Hitherto inaccessible, we have managed to invent a way of getting down many thousands of feet into the earth to get essential fossil fuels out to use to heat our homes and cook our food, for instance. The process of fracking or hydraulic fracturing involves the injection of a mixture of sand, water and chemicals into an oil or gas well at high pressures to fracture the shale rocks to release the natural gas inside.įracking is both an environmental and political issue. ![]() Fracking is a relatively new way of accessing natural deposits of shale gas and oil buried deep within the ground.
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