Some believe that this America’s shale revolution is economically beneficial and an indicator of its journey to energy independence. David Brooks, an Op-Ed columnist for the New York Times argues in his article, “Shale Gas Revolution”, that the U.S. shale gas industry has produced more than half a million new jobs, not only in traditional areas but also in “economically-wounded” locations such as western Pennsylvania and Ohio. He also advocates for America’s decreased reliance on foreign suppliers, as well as lowered electricity prices caused by low natural gas prices. Steven Moore, an economist at Freedom Works and economic adviser to President-elect Donald Trump, also supports America’s shale gas revolution in “Are Low Oil Prices Good for
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Terry Lynn Karl, a professor of Political Science at Stanford University, argues that the low oil prices caused by increased oil production in the U.S. are a “catalyst for the rise in global conflict” in Politico Magazine’s “The Hidden Consequences of the Oil Crash”. Karl describes how, especially in the 10 OPEC countries where regime stability relies on its oil pact, low oil prices leads to problems such as inflation, increasing debt, budget and trade deficits, rising food prices, and poverty. Additionally, these consequences are not just isolated to the Middle East – Russia, Brazil, Mexico, and Canada will also face revenue losses and an increase in poverty due to cheap oil prices. Major oil producing countries are already facing trouble – in Venezuela, for example, where oil revenue makes up 95 percent of its export earnings, low oil prices are causing skyrocketing inflation and the possibility of economic collapse. Nigeria is also running out of money, hurting President Muhammadu Buhari’s campaign against Islamist Boko Haram …show more content…
As numerous scientific studies indicate, the shale gas extraction process is capable of contaminating local waterways and harming wildlife, which hurts the environment and also poses as a health risk, especially for residents living near drilling sites. Additionally, the drop in oil prices caused by America’s energy boom that not only affect U.S. and global trading operations and economies, but also place American relations with foreign countries at risk and heighten the instability of countries whose economies rely on oil production. Due to the negative impacts of shale gas extraction on the environment and human health, as well as the geopolitical consequences that arise from this energy boom, the United States should not rely on shale gas as a principle energy source, but should look into the development of technology for renewable sources of energy. However, as the U.S. continues to extract shale gas, citizens can help mitigate the environmental consequences of these drilling operations by reaching out to local policymakers and lobbyists, and ultimately aid in passing legislation that is effective in regulating these practices and preserving the nation’s environment and general
Terry Lynn Karl, a professor of Political Science at Stanford University, argues that the low oil prices caused by increased oil production in the U.S. are a “catalyst for the rise in global conflict” in Politico Magazine’s “The Hidden Consequences of the Oil Crash”. Karl describes how, especially in the 10 OPEC countries where regime stability relies on its oil pact, low oil prices leads to problems such as inflation, increasing debt, budget and trade deficits, rising food prices, and poverty. Additionally, these consequences are not just isolated to the Middle East – Russia, Brazil, Mexico, and Canada will also face revenue losses and an increase in poverty due to cheap oil prices. Major oil producing countries are already facing trouble – in Venezuela, for example, where oil revenue makes up 95 percent of its export earnings, low oil prices are causing skyrocketing inflation and the possibility of economic collapse. Nigeria is also running out of money, hurting President Muhammadu Buhari’s campaign against Islamist Boko Haram …show more content…
As numerous scientific studies indicate, the shale gas extraction process is capable of contaminating local waterways and harming wildlife, which hurts the environment and also poses as a health risk, especially for residents living near drilling sites. Additionally, the drop in oil prices caused by America’s energy boom that not only affect U.S. and global trading operations and economies, but also place American relations with foreign countries at risk and heighten the instability of countries whose economies rely on oil production. Due to the negative impacts of shale gas extraction on the environment and human health, as well as the geopolitical consequences that arise from this energy boom, the United States should not rely on shale gas as a principle energy source, but should look into the development of technology for renewable sources of energy. However, as the U.S. continues to extract shale gas, citizens can help mitigate the environmental consequences of these drilling operations by reaching out to local policymakers and lobbyists, and ultimately aid in passing legislation that is effective in regulating these practices and preserving the nation’s environment and general