Hydraulic fracturing or “fracking” is an effective and valuable means of extracting natural gas and should not be stopped. Shale gas plays a critical role in securing the future energy needs of the Americans. In addition, hydraulic fracturing of natural gas from shale contributes to employment creation, adds revenue to our economy, and is an efficient form of extraction.
Hydraulic fracturing creates jobs. Job creation is likely to have the most significant economic effect on our economy (Source #4). Many of the jobs created are as a result of the ripple effect of gas exploration (Source #1). For example, the Marcellus Shale gas industry generated 156,000 jobs in Pennsylvania alone in 2011 (Source #1).
Projections for 2012 are that hydraulic fracturing will help to create 180.000 jobs owing to the advancement in the stimulation techniques that have led to an increase in well productivity (Source #1). It is estimated that by 2025 some 1 million jobs will have been created nationwide thanks to hydraulic fracturing (Source #3).
On the other hand, reports by the Environmental Protection Agency (EPA) show that we are yet to know how long and the level to which hydraulic fracturing will impact on local economies. At the same time, it is assumed that owing to the specialized nature that characterizes hydraulic fracturing, it may fail to provide job opportunities to local communities as they due to lack of expertise. Also, in case of an accident or increase in industry traffic, local resources would end up attracting heavy tax.
Moreover, there are indications that financial benefits associated with the traditional shale gas extraction re likely to be less than what was previously thought owing to companies intentionally overstating the size of their gas reserves and levels of productivity. In 2011, the price of natural gas reduced dramatically partly due to high levels of production of natural gas using the fracking technique. It is still not clear how such a price reduction would affect the economy.
In addition, hydraulic fracturing impact positively on economic growth (Source #1). Increased production of natural gas stimulates the economy and provides additional resources for community services such as health care, education, and charities (Source #5). Pennsylvania has 1,632 Marcellus wells that pumped out 432.5 billion cubic feet of gas in early 2011 (Source #1).
It is estimated that by 2020, Pennsylvania shall be the second largest producer of natural gas, after Texas (Source #1). In Pennsylvania, the Marcellus gas industry contributed $12.8 billion to the economy in 2011 and this is projected to increase to $14.5 billion by 2012 (Source #1).
Pennsylvania has had a profound effect on the United States natural gas market. The continuation of hydraulic fracturing has boosted the economy by $12.8 billion, in addition to contributing towards the provision of resources such as health care, education, and charities to the community.
Finally, hydraulic fracturing is efficient to extract. The utilization of water during the fracturing process is a more efficient means of extraction. Very little energy is wasted in decompression (Source #5). In 2011, shale gas extraction has easily surpassed that of the last three years combined.
The current production is equal to the total conventional gas extracted across the nation over the past 150 years (Source #3). Advances in the exploration of natural gas through fracturing have decreased the number of wells needed to produce the same amount of gas extracted in the 1980s (Source #2).
Owing to fewer wells and increased well productivity, we have witnessed a reduction of 148 million barrels in drilling wastes (Source #3) The continuation of hydraulic fracturing ensures little wastes during decompression and meets gas demands with fewer wells.
Hydraulic fracturing for natural gas should continue. Fracturing is effective and valuable for job creation, economic growth, and effective extraction. Hydraulic fracturing vital for the stability of the global economy and as citizens we need to support the extraction of shale gas. For more information of the benefits of hydraulic fracturing, please visit www.hydrualicfracturing.org.