Oil Fracking Benefits

Oil prices have constantly changed with over time. Many advances in how we can get clean oil or have items that use less oil have helped with oil prices going down. People have made claims that Saudi Arabia is trying to cripple American fracking (Moran, 2014). Americans have been buying oil from Saudi Arabia for a long time. This need Americans have for other countries oil could end with the United States using its fracking method. Fracking is defined as the process of drilling down into the earth before a high-pressure water mixture is directed at the rock to release the gas inside (Unknown, 2015). Oil is something everyone uses to run their car, heating their house, or using it for industrial purposes.

One benefit of getting oil from Saudi Arabia is that it helps their economy (MIrzayev, 2015). This only will continue to help Saudi Arabia as long as gas prices stay high in cost per barrel. On June 19, 2014 a barrel of oil cost $115.06, its highest level for the year. After that, oil prices started to free-fall and as of March 12, 2015 oil was trading around $58 per barrel (Mirzayev, 2015). This can hurt or help the country the oil is being bought from. Most of the imports currently come from five countries: Canada, Saudi Arabia, Mexico, Venezuela and Nigeria (Flintoff, 2012). So as of now the price of oil is hurting Saudi Arabia as far as its economy. …show more content…
Gas bills have dropped $13 billion per year from 2007 to 2013 as a result of increased fracking, which adds up to $200 per year for gas-consuming households (Dews, 2015). Fracking now accounts for 56% of U.S. natural gas production and 48% of oil output, according to the Energy Information Administration. The boom of fracking has helped make America the world's number 1 producer of oil and gas (Unknown, 2015). So with this information we know fracking’s benefits outweigh the