The Fracking Industry Outlook

The United States has become a net energy exporter, surpassing Russia and Saudi Arabia as the world’s leading oil and natural gas producer. This accomplishment is primarily due to innovations like horizontal drilling and high-volume hydraulic fracturing.

A ban on hydraulic fracturing would significantly increase gasoline and diesel prices. This would have significant impacts on many sectors of the economy.

Cost-effectiveness

Fracking involves drilling and fracturing shale rock formations to extract gas or oil. The resulting fluids are then piped to the surface and transported through pipelines to processing facilities. The technology has opened up vast natural gas deposits in the United States and elsewhere. However, fracking has also caused environmental concerns. One concern is that the process can release methane, a potent greenhouse gas that traps heat about 87 times more effectively than carbon dioxide over a 20-year period. Another concern is that fracking could pollute local water supplies.

Although the fracking industry has helped revitalize economies in many rural areas, it is not without its drawbacks. The process requires large amounts of water, which can strain local water resources. Companies are working to reduce this impact by using new technologies that require less water for fracking and by recycling wastewater. This can save both money and energy.

Environment-friendly

Fracking is credited with ushering in America’s energy revolution, which has cut fossil fuel prices for consumers and spurred a manufacturing renaissance. It also slashes pollution by displacing coal-fired power plants. However, it can be an environmental hazard, especially when wells leak. It also contaminates drinking water with toxic chemicals, including methanol, benzene and naphthalene.

Hydraulic fracturing has transformed the United States from energy scarcity to energy abundance, unleashing vast new reserves in tight-rock formations like shale. But it comes with intense industrial development, with multi-well pads and massive truck traffic. The result is noise, light pollution and air quality impacts, as well as habitat fragmentation.

Moreover, the technique generates billions of gallons of wastewater. Some of it is combusted in a process called flaring to reduce greenhouse gas emissions, but much of it leaks into groundwater or surface waters. Some of the contaminants found in fracking wastewater include carcinogens such as benzene and radioactive materials such as uranium.

Increased oil and gas production

Fracking allows for the exploration of unconventional natural gas reservoirs such as coal bed methane and shale gas. Unless naturally occurring fractures are present, almost all tight sand gas reservoirs require fracturing to be accessed and produced. This process is used to stimulate the formation of these cracks, allowing for the flow of gas into the wellbore.

The global hydraulic fracturing market research report by Grand View Research provides a comprehensive assessment of the industry with valuable facts, figures and insights. It offers a detailed analysis of the market on the basis of technology, material, application and region.

The use of fracking has allowed US oil companies to increase their production levels. The country is expected to remain the top producer of crude oil in 2040. It is also expected to export about five million barrels a day to international markets. This is a significant boost to the oil and gas sector. Moreover, it has strengthened the domestic energy security and diversified the U.S. energy supply.

Increased employment

The fracking industry has created a number of employment opportunities. Fracking involves a process known as hydraulic fracturing, which is used to extract oil and natural gas from underground. It uses specialized fluids to fracture rock formations and force them to open further. The result is increased oil and gas production, which leads to economic growth and job creation.

Despite the increase in jobs, there are many misconceptions about the fracking industry. One popular myth is that fracking has created hundreds of thousands, if not millions, of US manufacturing jobs. Pennsylvania, for example, is often cited as a success story, with the state being dubbed the “Saudi Arabia of natural gas.” However, there are many flaws in these claims.

For example, the API’s jobs estimates include a wide range of categories, including those that aren’t related to the industry. For example, it includes jobs in convenience stores where gas is sold. The organization Food & Water Watch created a more accurate model that only counts direct jobs in the fracking industry and relevant support activities, such as pipeline construction and product transportation.

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Environmental Impact of Oil Fracking

Fracking operations create a vast web of roads, pipelines and utility corridors that industrialize wild or rural landscapes. This infrastructure strains local water supplies and disrupts habitat for wildlife.

The fracking process also produces billions of gallons of wastewater that contains chemicals added for the process. This wastewater is pumped into underground injection wells, where it can shift rocks and trigger a quake.

Air Pollution

While we often hear about the risks of groundwater contamination, air pollution from fracking operations is also a serious concern. Many of the chemicals used in fracking can cause cancer, and benzene, a toxic petroleum hydrocarbon, is a significant contributor to ground-level ozone (smog). Diesel trucks that transport water, equipment and chemicals to and from oil well sites contribute to pollutants as do the combustion of fossil fuels on site.

In addition, induced fractures can extend into other geological formations, including drinking water aquifers, despite the fact that operators must drill thousands of feet away from such aquifers. And wastewater contaminated with chemicals is often stored in tanks and ponds or sent off for treatment, raising the risk of leaks or accidents.

In one study, researchers found that babies born within 3 kilometers, or about 2 miles, of a fracking site were at higher risk for poor health outcomes, including low birth weight and respiratory and heart problems. Researchers attributed this to a local increase in particulate matter pollution, known as PM 2.5, caused by fracking.

Water Pollution

Fracking involves injecting millions of gallons of water into the ground. That water can contain many dangerous chemicals and contaminants including radioactive elements, methanol, polyols, borax, hydrochloric acid and more. When this chemical-laced water is pumped back up to the surface, it can contaminate rivers, streams and groundwater. The water also can contaminate wastewater treatment plants because they don’t have the specialized technologies needed to deal with these compounds.

Spills and leaks from the storage, mixing, pumping and transportation of fracking fluid and additives can also contaminate water resources. These can occur due to human error or equipment failure.

Adding to the problem is that the EPA’s labs are set up to test for chemicals found at Superfund sites, not for the complex, water soluble and exotic compounds used in fracking fluid. This means that there are few ways to know how much fracking is damaging our water and health. This is a major concern because if the environment is polluted, people become sick.

Health Issues

Fracking fluid mixes are often composed of chemicals that have been linked to health issues, such as some cancers and disruptions in the endocrine system. In some cases, people who live close to fracking operations have been found to be at higher risk for these problems.

The wastewater from fracking operations can also pose health issues. When it is injected underground to fracture shale, the fracking water can pick up and entrain other contaminants, including radioactive particles like radium. These contaminants can then contaminate drinking water wells, a major issue in rural communities.

Other hazards from fracking include the construction of roads and pipelines, which can destroy local landscapes and disrupt wildlife habitat. The noise, lights, and traffic from these activities can also be disruptive to people’s health. One study found that residents near a natural gas pipeline experienced increased stress, anxiety, and depression, as well as sleep disturbances.

Wildlife Issues

Fracking can pollute the air and water with toxic chemicals that have been linked to health problems including childhood leukemia, heart conditions, asthma symptoms and headaches. The waste water pumped underground during fracking returns to the surface, often carrying harmful metals, radioactivity and a myriad of chemicals (many of which are trade secrets).

Spills or intentional dumping of this wastewater can have severe impacts on wildlife, such as the mass fish kill that occurred in North Dakota in 2015. In another study, scientists found that bird feathers near fracking sites contained high levels of barium and strontium, suggesting that these contaminants made their way into the birds’ bodies.

The noise and truck traffic associated with fracking disturbs animal habitat. The fracking process may also contaminate sensitive wetlands and natural areas, such as national parks and areas of outstanding beauty. This is particularly dangerous for migratory songbirds, which depend on large blocks of forest for their habitat.

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Oil Fracking Explained

Recent innovations in fracking have enabled oil and gas producers to unlock vast new supplies of energy trapped in tight rock formations. This increase in domestic production has reduced energy prices, cut carbon dioxide emissions and helped the economy by reducing dependence on volatile foreign sources.

Nevertheless, fracking has been linked to negative local impacts. A rational discussion requires inspection of both costs and benefits.

What is fracking?

Fracking is the process of drilling into the earth, then using a mixture of water, sand and chemicals to break up rock formations that contain oil and natural gas. The sand in the fracking fluid holds open the cracks, while the chemicals do other jobs, such as kill bacteria.

Once the cracks are opened, gas and oil can flow through pipes to a wellhead at the surface. This method has made it possible to tap previously inaccessible natural gas reserves.

But the rush to fracking has also left important environmental safeguards on the back burner. For example, the federal government does not require companies to disclose what is in their fracking fluids, and millions of gallons of this toxic mix are pumped into the ground at each drilling site every year.

Many of these wells are located in areas with aquifers that are already under stress from overuse. And the long, horizontal wells used in fracking require even more water than traditional vertical wells.

How does it work?

Fracking relies on small explosions and a mixture of water, sand, and chemicals injected at high pressure to break up shale rock formations that hold oil and natural gas. The technology is revolutionizing petroleum and natural gas production. Without rigorous safeguards, however, fracking could poison groundwater and pollute surface waters, industrialize wild landscapes, and degrade wildlife habitat.

Giant new wells, requiring staggering volumes of water to fracture bedrock, are threatening America’s fragile aquifers. In Texas alone, fracking has consumed 1.5 trillion gallons—as much as the state consumes in a year.

The fracking process requires millions of gallons of freshwater each time. In arid regions where freshwater is scarce, the demand for water for fracking can strain local supplies and threaten communities that depend on them for drinking, farming, and other uses. The water used for fracking can’t be returned to the freshwater supply, so it is typically disposed of deep underground, away from freshwater supplies and ecosystems.

What are the risks?

Fracking can result in air pollution, contaminating water and endangering communities. Accidental spills can occur (in 2015 a North Dakota pipeline failure caused millions of gallons of contaminated wastewater to flow into a creek) and disposal of the toxic chemicals containing radioactive compounds poses another risk. Air pollutants can cause a variety of health problems, including childhood leukemia, cardiac problems, asthma symptoms and headaches.

Studies have linked fracking to groundwater contamination, contaminated water wells and the occurrence of small earthquakes. Methane gas, a byproduct of drilling, can be released into the environment and enter drinking-water wells, as evidenced by the 2010 film Gasland, which caused a sensation with footage of kitchen faucets spewing flames.

Pro-fracking advocates argue that the benefits outweigh any negative impacts from a boom in oil and gas production. To make an objective assessment, it’s necessary to look at costs and benefits side-by-side. A recent study attempts to do just that. It finds that the direct economic benefits to local communities are large.

What are the benefits?

Many of the debates surrounding fracking focus on the negative impacts it could have on communities near drilling sites. However, a balanced assessment of fracking should include discussion of its potential benefits as well.

One of the main benefits of fracking is that it has made it possible to access oil and gas deposits that were previously difficult to extract. This has led to a boom in oil and gas production.

Another benefit of fracking is that it has helped to keep gas prices low. This is because fracking allows the industry to produce so much gas so quickly.

Finally, fracking can also help to reduce carbon emissions. This is because it uses a lot of natural gas, which is a more environmentally friendly fuel than coal. In addition, fracking can also be used to capture methane gas, which is a powerful greenhouse gas. This is because methane traps 25 times more heat than carbon dioxide.

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