Def of fracking8/30/2023 Now we can get back to work." -Brent Sanford, mayor of Watford City, a town at the center of the North Dakota oil boom, in " The New Oil Landscape" (NGM March 2013 issue) Negative impacts of fracking This is a full-scale mining operation, and I'm all for it. By investing in alternative energies while utilizing natural gas for transportation and energy generation, America can decrease its dependence on OPEC oil, develop the cutting-edge know-how to make wind and solar technology viable, and keep more money at home to pay for the whole thing." - Pickens Plan, a site outlining BP Capital founder T. It will help us to keep more of the $350 to $450 billion we spend on imported oil every year at home, where it can power our economy and pay for our investments in a smart grid, wind and solar energy, and increased energy efficiency. Natural gas is the critical puzzle piece RIGHT NOW. It is a bridge fuel to slash our oil dependence while buying us time to develop new technologies that will ultimately replace fossil transportation fuels. "Natural gas is not a permanent solution to ending our addiction imported oil. In 2012, this revolution added $62 billion to federal and state government revenues, a number that we project could rise to about $113 billion by 2020.2 It is helping to stimulate a manufacturing renaissance in the United States, improving the competitive position of the United States in the global economy, and beginning to affect global geopolitics." -Daniel Yergin, vice chair of global consulting firm IHS, in February testimony before Congress That number could rise to 3 million by 2020. Today, the industry supports 1.7m jobs - a considerable accomplishment given the relative newness of the technology. "The United States is in the midst of the 'unconventional revolution in oil and gas' that, it becomes increasingly apparent, goes beyond energy itself. A few viewpoints on both sides of the issue follow. Debate rages on about whether these worldwide reserves can be tapped safely, and whether environmental damage from fracking natural gas will outweigh the gains from using a fuel that is cleaner than oil or coal, but remains a fossil fuel nonetheless. Now countries around the world, including China, the United Kingdom and South Africa, are eyeing shale development as the potential key to unlock a similar windfall of homegrown energy. Natural gas production, already at new highs thanks to shale gas, is expected to grow 44 percent in the U.S. In the United States, oil production last year reached its highest level in 14 years, thanks in part to output from North Dakota's Bakken Shale, and is expected to keep rising. The implications of this sea change are debatable, but the impact is undeniable. (See interactive: " Breaking Fuel from the Rock") Fracking-the high-pressure injection of water, chemicals and sand into shale deposits to release the gas and oil trapped within the rock-in recent years has been combined with horizontal drilling and other improvements in technology to harvest stores of gas and oil that previously were thought commercially unfeasible to access. The use of hydraulic fracturing to extract oil and gas from the earth dates back to the 1940s, but only in the past few years has "fracking" become an energy buzzword, alluding primarily to the shale gas boom in the United States and all of the controversy that has accompanied it.
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