Hydraulic fracking can bring jobs and fortune to America. The industry has created over 2.1 million jobs across America and the potential is estimated well over 4 million. This is just a preview of the possible benefits developed with hydraulic fracturing. (Casselman) Cheap energy is attracting more manufacturing back to America. Technological improvements in the past two years have taken what was once a small, marginally profitable field and turned it into one of the fastest-growing industries in America. (Casselman) North Dakota a prime example it is the nation’s second-largest oil and natural gas producer and has the lowest unemployment rate in the United States. According to Casselman, the Oil Industry Booms in North Dakota; State Is Riding High as Firms Develop Better Ways to Tap Huge Bakken Shale Deposit, Raising Hopes for U.S. Production. Hydraulic fracking is good for America.
What is hydraulic fracturing? Fracking is actually very simple: It’s taking a large amount of …show more content…
Oil companies continue to improve their drilling techniques this leads to bigger wells improved drilling and lower costs. Marathon, for example, now takes an average of 24 days to drill a well, down from 56 days in 2006 wells that weren't previously worth drilling are profitable decreasing prices to $50 a barrel, down from $80 a barrel according to analyst Mike Jacobs of investment firm Tudor Pickering Holt & Co. (Casselman) The price of natural gas has decreased from market highs of nearly $14/million BTU (British Thermal Unit) in 2008 to a low of $4.50/ Btu today. (Taglia) Production has increased by 50 percent for oil and 20 percent for gas over the last five years and this is just beginning a recent study conducted by a nonpartisan group the Center for a New American Security this could possibly help further national strategic interests.
What is hydraulic fracturing? Fracking is actually very simple: It’s taking a large amount of …show more content…
Oil companies continue to improve their drilling techniques this leads to bigger wells improved drilling and lower costs. Marathon, for example, now takes an average of 24 days to drill a well, down from 56 days in 2006 wells that weren't previously worth drilling are profitable decreasing prices to $50 a barrel, down from $80 a barrel according to analyst Mike Jacobs of investment firm Tudor Pickering Holt & Co. (Casselman) The price of natural gas has decreased from market highs of nearly $14/million BTU (British Thermal Unit) in 2008 to a low of $4.50/ Btu today. (Taglia) Production has increased by 50 percent for oil and 20 percent for gas over the last five years and this is just beginning a recent study conducted by a nonpartisan group the Center for a New American Security this could possibly help further national strategic interests.