Economic Effects of Hydraulic Fracturing

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Economic Effects of Hydraulic Fracturing

Economic Effects of Hydraulic Fracturing

Economic Effects of Hydraulic Fracturing
Hydraulic fracturing is a process commonly known as "Fracking,” implemented by the oil and gas industry today. Fracking is the extraction of oil and natural gas trapped inside shale deposits stored thousands of feet underground. The process begins when a borehole is drilled roughly 1.5 miles beneath the surface of U.S. soil, passing through several thousand feet of different rock layers. Steel cement casings are placed to prevent leaks in the water supply Controlled explosives are used to puncture through the concrete and steel so high pressured liquid pour into shale formation and create fractures allowing for the flow of natural gas to be pumped to the surface and processed. Hydraulic Fracturing today is now done in parts of Europe and Africa, Russia, and Canada. However precautionary measures must be in place surrounding the borehole and drilling through the aquifer, the aquifer is water trapped under soil that is pumped through residential wells. A protective steel casing with cement casing is entered though out the drilling process to protect the aquifer. One of the consequences in fracking, is the possibility of contaminating the water supply. “Water pollution, for example, can cause illness and destroy the livelihood of fishermen and others who rely on a healthy ecosystem to earn a living.” (President’s Economic Report for 2012, p. 231) Methane gas for example can contaminate the aquifer if it seeps past fractures of the cement steel casing. Methane is highly flammable and is a great danger to resident homes with contaminated water. Oil for another example that can seeps through cracks, in pour a glass of contaminated water, oil can be seen on the bottom of the glass naturally separated from the water. “France, for example, has banned Hydraulic Fracturing altogether and other countries are debating the idea.” (Konrad, 2012) This...
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